Comments
Shares of Ashok Leyland today rose over 4 per cent after the company said it has inked a pact with its long-standing Japanese partner Hino to jointly develop BS-VI compliant engines.
The stock gained 4.43 per cent to settle at Rs 123.65 on BSE. During the day, it rose 4.72 per cent to Rs 124. On the NSE, shares of the company jumped 4.34 per cent to end at Rs 123.60.
In terms of equity volume, 14.24 lakh shares of the company were traded on the BSE and over 2 crore shares changed hands on the NSE during the day.
The companies have entered into a mutual cooperation agreement (MCA) where Ashok Leyland will utilise Hino’s engine technology for Euro-VI development and will support the purchase of Hino’s engine parts in India for global operations, the Chennai-based firm said in a statement.
Hino and Ashok Leyland have had a cooperative agreement for engine production in India since 1986.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.