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Ashok Leyland shares rise for third straight session
Ashok Leyland Ltd rises for third straight session Ashok Leyland Ltd is quoting at Rs 178.5, up 2.18% on the day as on 12:49 IST on the NSE. The stock is up 37.5% in last one year as compared to a 0.91% slide in NIFTY and a 15.69% slide in the Nifty Auto index. Ashok Leyland Ltd is up for a third straight session today.
Ashok Leyland posts record profit, margin dips
Consolidated revenue increased 10% to Rs 10,750 crore during the quarter under review. On a standalone basis, the company posted its highest-ever net profit of Rs 609 crore, up from Rs 594 crore in the year-ago quarter. However, the EBITDA margin declined to 10.1% from 11.1% in the same period last year, due to rising material costs.
Ashok Leyland surges over 4% on week start
The short-term outlook is bullish Ashok Leyland. The stock has begun the week on a strong note by surging over 4 per cent on Monday. This confirms an inverted head and shoulder pattern on the chart.
Ashok Leyland wins ₹223 crore arbitration award against DTC
Ashok Leyland Ltd has secured ₹222.65 crore in partial arbitral award along with interest and legal costs, in its long-running dispute with Delhi Transport Corporation (DTC). Ashok Leyland informed stock exchanges on Monday that it had supplied buses to DTC between 2009 and 2011 against a tender issued by the latter. In pursuance of the contracts with DTC, Ashok Leyland raised certain claims and also initiated arbitration against DTC in 2013.
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