Ashok Leyland Secures Order for 2104 Viking Buses from MSRTC

Ashok Leyland, a leading domestic entity in the automotive sector, has clinched a significant contract from Maharashtra State Road Transport Corporation (MSRTC). The order entails supplying 2104 fully built Viking passenger buses, making it the largest single order ever received from MSRTC.

These buses will be equipped with advanced features including AIS 153 compliant bodies, iGEN6 BS VI OBD II technology with a powerful 197 HP H-Series Engine, and Rear Air Suspension.

Manufactured at Ashok Leyland’s state-of-the-art bus body plants, these buses promise enhanced safety, improved comfort, and lower total ownership costs for MSRTC. The contract, valued at approximately Rs. 981.45 crores, spans from August 2024 to August 2025.

Mr. Shenu Agarwal, Managing Director and CEO of Ashok Leyland, expressed excitement about the contract, stating, “We are excited to continue our long-standing partnership with Maharashtra State Road Transport Corporation (MSRTC). This new order underscores our dedication to producing highly efficient and technologically advanced products, driving the growth of public transportation in the country.

Mr. Sanjeev Kumar, President- MHCV at Ashok Leyland, added, “We are thrilled to have received this order from MSRTC. The order win emphasizes the confidence and trust our customers have in our products. Specifically tailored to meet the unique requirements of Maharashtra State Road Transport Corporation, our buses stand as a testament to the reliability, durability, and robustness of our products. Underlining Ashok Leyland’s commitment to delivering high-quality transport solutions.

Check the full Press Release Here 

Check the BSE Announmcent  Here

Get the full Details of the Viking Bus that Ashok Leyland has in its inventory Here

Market Reaction

 On July 15, 2024, Ashok Leyland's NSE stock opened at Rs. 225.00 and traded within a range of Rs. 223.40 to Rs. 228.69 throughout the day, showing a slight increase from the previous close of Rs. 224.26.

The stock closed at Rs. 228.20, indicating moderate upward movement amid trading volume of 1,16,95,271 shares valued at approximately Rs. 2,65,85,75,292.30.

Today, on July 16, 2024, the stock price opened at Rs. 229.00, reaching a peak of Rs. 228.69 by mid-day. This stability suggests continued investor interest and confidence in Ashok Leyland's stock, aligning with previous trading patterns.

Get the live share price on NSE Here

Ashok Leyland

Ashok Leyland, flagship of the Hinduja Group, is a prominent player in India's automotive industry, specializing in Trucks, Buses, Light Vehicles, Power Solutions, Defence, and Electric Vehicles.

They manufacture a wide range of trucks and buses, including fully built buses like the Viking series, catering to public transport and luxury segments. Their portfolio also includes light vehicles for diverse transportation needs, along with power solutions encompassing engines and related technologies.

In addition, Ashok Leyland provides specialized vehicles and solutions for the defence sector, highlighting their commitment to both commercial and strategic sectors. They are also actively involved in developing electric vehicles, contributing to sustainable transportation solutions.

MSRTC

Maharashtra State Road Transport Corporation (MSRTC) is one of the largest state transport undertakings in India, boasting a fleet of over 15,000 buses. Governed by the Maharashtra State Road Transport Corporation Act, 1952.

The Board of Directors comprises a maximum of 17 members, including the Chairman and 17 designated directors. These directors are appointed through both the central and state governments, with specific roles allocated to ensure expertise in fields such as transport management, engineering, economics, and industry finance.

The board plays a pivotal role in overseeing the strategic and operational decisions of MSRTC, aiming to enhance public transportation services across Maharashtra.