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Ashok Leyland shares surge 7% as UBS recommends 'buy'
The Hinduja Group subsidiary saw a 41% decline in its quarterly consolidated net profits from ₹933.69 crore in Q4 of the previous fiscal to ₹550.65 crore in Q1 of this fiscal year
The Hinduja Group subsidiary saw a 41% decline in its quarterly consolidated net profits from ₹933.69 crore in Q4 of the previous fiscal to ₹550.65 crore in Q1 of this fiscal year
Net profit of Ashok Leyland grew 20% year-on-year to ₹900 crore for the quarter ended March.
Company rises 15 ranks, cashes in on increasing commercial vehicle sales, new contracts.
In December, the domestic passenger vehicle sales crossed the 4 million units mark led by robust sports utility vehicle (SUV) sales
Around 50% of long-haul trucks sold in India come without cabins.
Mahesh Babu, CEO, Switch Mobility in an interaction tells Fortune India that buses and LCVs between 2 and 3.5 tonnes will be the two important segments that will undergo electrification.
According to the company, once operational, the manufacturing facility will have a capacity to produce 2,500 buses per year.
Ashok Leyland says the Switch IeV series (lev 3 and lev 4) is enabled with a 330 V high voltage EV Architecture for the 3.5-tonne commercial vehicle category
The company attributes an uptick in demand for its flagship modular AVTR trucks as the reason behind the sharp surge in its profits.
Ashok Leyland, which is a part of the Hinduja Group, says the contract includes the procurement of the field artillery tractor (FAT 4x4) and the gun towing vehicle (GTV 6x6)