Business car producer Ashok Leyland has denied stories that it was mentioned that it’s negotiating to purchase a promoter stake in SML Isuzu Ltd. The corporate mentioned in an info despatched to the inventory markets on March 26, “Ashok Leyland desires to refute the information as utterly incorrect.” Ashok Leyland is the second largest industrial car firm in India. Some media stories claimed that the corporate is shut to buying promoters’ stake in Business Automobile SML ISUZU. After this, this assertion of Ashok Leyland has come. In the meantime, Ashok Leyland shares noticed an increase of as much as 2.2 per cent throughout buying and selling on Wednesday and was buying and selling at Rs 214.65. Nevertheless, this inventory is at present buying and selling beneath 20% from its 52-vend excessive of Rs 264. The inventory bounce earlier than the board assembly! This growth within the firm’s shares has come at a time when its board assembly goes to be held within the late night on 26 March. Other than this, the corporate has additionally introduced to prepare analyst calls between 5:15 and 5:45 pm right now. Buyers’ eyes are on the elimination of the corporate’s board assembly. The corporate mentioned in a separate assertion that it’s going to make investments ₹ 200 crores in its subsidiary Hinduja Leyland Finance (HLF). This funding might be made at a value of ₹ 200 per share on 1 crore fairness share (₹ 10 face worth). The transfer goals to keep up a capital addicweight degree, as the corporate is planning to take heed to HLF within the first quarter of FY26. Worry of tariff returned to the inventory market, the Sensex breaks 728 factors and the concepts and funding recommendation given by consultants/brokerage corporations on Moneycontrol are their very own, not the web site and its administration. Moneycontrol advises customers to seek the advice of an authorized skilled earlier than making any funding determination.
