Ashok Leyland has confirmed that it has received an order from Tamil Nadu State Transport Undertakings (TN STU) for 1,750 buses. This order has come closely on the back of orders received from multiple state transport undertakings in recent times. However, the company did not disclose any financial details of the said deal. Ashok Leyland is currently the fourth largest bus manufacturer in the world and India’s number one bus maker. The company believes that this order would further consolidate its leadership position. The shares of Ashok Leyland were trading at Rs 82.70 a piece, up 2.41 percent in the morning trade.
Speaking about the said order, Anuj Kathuria, COO, Ashok Leyland, said that the company is very happy to receive the confirmation of this order from TN STU. He added that Ashok Leyland’s ability to bring value, combined with our superior technology and innovation will help it in maintaining its leadership position in buses in India.
Commenting on this, Sanjay Saraswat, President – MHCV, Ashok Leyland, said that with this order, the company’s orderbook for State Transport Undertakings has enhanced significantly. This is a testament to the reliability, durability and robustness of our buses. He also said that the cost of ownership and the product experience which the brand can deliver is the best in the industry.
In other news, Ashok Leyland had earlier stated that Marico MD and CEO Saugata Gupta and outgoing JCB India MD and CEO Vipin Sondhi have joined the company’s board of directors. Gupta was credited with transforming Marico into a high performing business and was responsible for driving growth and operations both in India and across global markets. Ashok Leyland had announced that Sondhi will join the group’s leadership team where he would be focusing on consolidation, growth and future strategy of Hinduja Group’s international automotive portfolio.
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