Ashok Leyland has secured a record order of 2,104 fully built buses from the Maharashtra State Road Transport Corporation (MSRTC), marking its single largest order to date.
What Happened: Ashok Leyland announced on Monday that it has received a massive order from MSRTC, one of the largest state transport undertakings in India with a fleet of over 15,000 buses. The order comprises 2,104 units of Viking passenger buses, which are to be manufactured at Ashok Leyland’s exclusive bus body plants equipped with cutting-edge technology.
These buses will be fully compliant with the latest CMVR standards, boasting features like AIS 153 compliant body, iGEN6 BS VI OBD II technology with 197 HP H-Series Engine, and Rear Air Suspension, among others. The order, valued at approximately Rs. 981.45 crores, is slated for execution between August 2024 and August 2025.
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Shares of the auto giant jumped up as soon as the announcement was made. Ashok Leyland is among the top five largest manufacturers of buses in the world and India's largest bus manufacturer.
Price Action: Ashok Leyland’s share price was up 1.10% to trade at ₹226.73 in early trade on Monday.
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