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Indian HMV manufacturer shares surge despite markets

Indian HMV manufacturer shares surge despite markets

Indian heavy vehicles manufacturer, Ashok Leyland, the Indian collaborator of British Leyland has been active in the Indian markets since decades.

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The company, based out of South India, has been supplying large trucks for Indian roads, ferrying millions of tons of cargo till date.

Founded in 1948 by Late Raghunandan Saran, the company came into the Hinduja fold in 2007, since which time it has grown by leaps and bounds. Operating six plants in India, it is the second largest HMV manufacturer in India, with a impressive turnover to match.

The company recently bagged a contract to supply 3,600 trucks and busses to the African nation of Cote D’ Ivorie worth $200 Million.

This huge order booking, specially in light of current economic conditions, gave a glimmer of hope to the bourses, sending the Ashok Leyland scrip up by 3.67 percent in BSE to a high of Rs.97.50

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