Ashok Leyland completes stake acquisition, Stock Up
February 5, 2019
Ashok Leyland Limited has completed acquisition of stake in Ashley Aviation Limited, which was earlier announced by the company on 2-January 2019. Accordingly, the company has acquired 4,50,005 shares of Rs10 apiece constituting 11.25 percent in the paid-up share capital of Ashley Aviation Limited. The acquisition value is about Rs 22.00 lakh.
to the said acquisition, the Ashok Leyland shareholding in Ashley Aviation stands
increased from 88.75 percent to 100 percent making it a wholly-owned subsidiary
of the company.
to this development, the Ashok Leyland stock was seen on upper circuit through
mid-market trade Tuesday. The stock was seen
at Rs. 83.00 per share, up by 0.85% on the NSE with Nifty50 growing at 28 points. Conversely, on the BSE too the share price quoted
the same with Sensex picking 82 points up.