Ashok Leyland Ltd said its holders approved to write off Rs 1600 million.
The Board of Directors of Ashok Leyland Ltd at its meeting held on January 24, 2003 appointed Mr Guido Sagone as an Alternate Director to Mr Marco Binachi, in place of Mr Matta Luigi, who was hitherto Alternate Director.
Chennai-based Ashok Leyland Ltd, the second largest truck maker in India, has inaugurated an integrated manufacturing facility at Pantnagar, Uttarakhand. This unit, in which Rs 1,500 crore (Rs 15 billion) have been invested, is the company's seventh.
Ashok Leyland Ltd has posted a net profit of Rs 232.87 million for the quarter ended December 31, 2002 as compared to Rs 135.18 million in the quarter ended December 31, 2001.
Buoyed by staggering sales of Tata's Ace, the one-tonne mini-truck launched mid-2005, Mahindra & Mahindra, Ashok Leyland Ltd, Bajaj Auto Ltd, Piaggio and Hyundai
Tatra Trucks India Ltd, the joint venture between Czech truck maker Tatra and Vectra of UK, is planning to launch its first highway transportation vehicle (for the goods segment) late next year.
Automobile manufacturer Ashok Leyland Ltd plans to cut 1,000 jobs during 2003-04, and to improve productivity through better processes and standardisation, R Seshasayee, the company managing director, said.
The valuation for the unit has been carried out by PriceWaterhouseCoopers and finalised by the board committee comprising all the independent directors.
Ashok Leyland Ltd is readying to manufacture its trucks and buses in China and Pakistan within the next 12-18 months as part of plans to increase its business in overseas markets, R Seshasayee, managing director of the company, said on Monday.
Ashok Leyland Ltd, India's second-largest truck and bus maker, said on Tuesday its vehicle sales in November rose 12.2 per cent from a year earlier
India's second-biggest truck and bus maker Ashok Leyland Ltd reported on Friday a 4.7 per cent fall in fourth-quarter earnings despite a 20.8 jump in total income, the Bombay Stock Exchange said.
It's bullish on electric vehicle segment as govt is keen to buy around 20-25k electric vehicles
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'Is it advisable to have more number of scrips in small quantities or a few scrips in big quantities?'
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Ashok Leyland's debt increased to Rs 5,500 crore as of June, from Rs 4,300 crore at the end of the March quarter, mainly due to higher working capital.
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The benchmark has gained 2 per cent this week on continued hopes the incoming Narendra Modi government would unveil substantial economic reforms.
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Leyland expects the digital drive to help tap its in-house strength as well as segments such as passenger cars and two-wheelers.
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