DSIJ Mindshare

Stocks in focus: Ashok Leyland and ABB Power Products & Systems India gain on MoU
Geyatee Deshpande
/ Categories: Trending, DSIJ News

Stocks in focus: Ashok Leyland and ABB Power Products & Systems India gain on MoU

Ashok Leyland has teamed up with Hitachi ABB Power Grids listed as ABB Power Products & Systems India Ltd along with Indian Institute of Technology Madras (IITM) for an e-mobility pilot.

The e-bus pilot is for sustainable in-campus commuting by IITM’s students and staff. For this, Hitachi ABB Power Grids’ innovative flash-charging technology i.e. Grid-eMotion Flash will be used to provide Ashok Leyland while IITM would host the infrastructure required to operate the flash-charging system for the e-bus.

This partnership between the three is an encouraging step towards e-mobility.

In another press release, Ashok Leyland also announced to rename its majority-owned UK subsidiary-Optare Group Ltd to Switch Mobility Ltd as a part of Ashok Leyland’s drive towards electrification and new mobility services. To benefit from the growing opportunities in the global LCV & Bus EV market, Ashok Leyland is considering bringing its entire electric vehicles (EV) initiatives under Switch Mobility that could also include financial participation and strategic tie-ups.

On Friday, the stock of Ashok Leyland gained by around 5 per cent intraday and later closed at Rs 92.10 per share, up by 3.60 per cent or Rs 3.20 per share. The 52-week high is Rs 97.80 and the 52-week low is Rs 33.70 on BSE.

ABB Power Products & Systems India closed at Rs 1,145.80 per share, up by 8.89 per cent or Rs 93.50 per share.

Previous Article Indiabulls Real Estate gives pennant breakout
Next Article Nifty trend for Tuesday
Print
754 Rate this article:
4.6
Please login or register to post comments.
DALAL STREET INVESTMENT JOURNAL - DEMOCRATIZING WEALTH CREATION

Principal Officer: Mr. Shashikant Singh,
Email: principalofficer@dsij.in
Tel: (+91)-20-66663800

Compliance Officer: Mr. Rajesh Padode
Email: complianceofficer@dsij.in
Tel: (+91)-20-66663800

Grievance Officer: Mr. Rajesh Padode
Email: service@dsij.in
Tel: (+91)-20-66663800

Corresponding SEBI regional/local office address- SEBI Bhavan BKC, Plot No.C4-A, 'G' Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra.
Tel: +91-22-26449000 / 40459000 | Fax : +91-22-26449019-22 / 40459019-22 | E-mail : sebi@sebi.gov.in | Toll Free Investor Helpline: 1800 22 7575 | SEBI SCORES | SMARTODR