Ashok Leyland Ltd. (ALL) on Friday stated it had invested â¹25 crore in the newly- shaped TVS Trucks and Buses Pvt. Ltd., taking its shareholding to 49.9% and thus, changing into an associate firm.
TVS Trucks was shaped on June 13, 2023 to strengthen ALLâs automotive-dealership enterprise, stated the business automobile producer in a regulatory submitting.
TVS Trucks is a three way partnership between ALL and TVS Mobility Pvt. Ltd., in which the events maintain fairness stakes of 49.9% and 50.1% respectively.
Shares of ALL gained â¹0.95 or 0.55% to shut at â¹174 on the BSE on Friday.
