Hinduja Group’s Ashok Leyland Limited has secured a major contract for electric buses through its subsidiary, OHM Global Mobility, from the Metropolitan Transport Corporation (MTC) of Chennai. OHM Global Mobility, Ashok Leyland’s electric mobility arm, has received an order for a total of 500 electric buses. The company disclosed this information to the stock market, marking a significant advancement in Ashok Leyland’s electric vehicle segment.
On Friday, October 25, Ashok Leyland’s share price closed 1.83% lower at ₹213.28.
Key Contract Details
Ashok Leyland’s OHM subsidiary has been contracted to supply 500 units of 12-meter ultra-low floor electric buses. The buses will primarily serve as public transport in Chennai, catering to both AC and non-AC segments. The contract also includes a 12-year maintenance and operational commitment for the supplied fleet.
Bus Specifications and Operational Details
Out of the 500 buses, 400 will be non-AC, while the remaining 100 will have air conditioning. Each bus will offer seating for 37 passengers and will be able to cover a distance of over 200 kilometers on a single charge, making it suitable for Chennai’s extensive urban routes.
Stock Performance Overview
Following the announcement of this contract, Ashok Leyland’s stock has shown significant interest from investors. Over the last year, the stock has delivered a 28% return, including a 16% rise year-to-date. Over five years, the stock has provided an impressive 182.53% return to shareholders. The stock’s 52-week high is ₹264, while the low is ₹157, with a current market capitalization of ₹63,632 crore.
Summary Table
| Details | Information |
|---|---|
| Company | Ashok Leyland Ltd. |
| Subsidiary | OHM Global Mobility |
| Contracted by | Chennai Metropolitan Transport Corporation |
| Contract Details | Supply of 500 electric buses |
| Bus Types | 400 Non-AC, 100 AC |
| Bus Seating Capacity | 37 seats per bus |
| Range per Charge | 200 km+ |
| Contract Duration | 12 years (operation & maintenance included) |
| Stock Price (Oct 25, 2024) | ₹213.28 |
| 52-Week High/Low | ₹264 / ₹157 |
| 1-Year Return | 28% |
| YTD Return | 16% |
| 5-Year Return | 182.53% |
| Market Cap | ₹63,632 crore |
Disclaimer: Investing in the stock market carries inherent risks. Investors should consult their financial advisors before making any decisions.
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