- 16 Jul 2024
- ICICI Securities
ASHOK LEYLAND BAGS SINGLE LARGEST BUS ORDER FROM MAHARASHTRA STC
ASHOKLEY - 231 Change: 8.01 (3.60 %)News: In a regulatory filing, the company has informed exchanges that it has bagged Single Largest Order of 2104 Fully Built Buses from Maharashtra State Road Transport Corporation. This order is for Supply of BSVI OBD II Diesel Fuel Type Fully Built Passenger Bus. The said order is to be executed over August 2024-August 2025 with total order value pegged at ₹ 982 crore (i.e. ₹ 46.6 lakh/unit).
Views: Maharashtra State Road Transport Corporation (MSRTC) is one of the largest state transport undertakings in the country with over 15,000 buses. With this order, Ashok Leyland buses will dominate its fleet. This is indeed positive development for Ashok Leyland and help it outperform its peers as the domestic CV industry consolidates in the near term with modest growth expectations. Ashok Leyland is among the Top 5 largest manufacturer of buses in the world and India’s largest bus manufacturer (market share 34% in FY24). This recent order further consolidates its position in the Indian and the global bus market.
Impact: Positive