ASHOKLEY

MUMBAI, March 17 (Reuters) - India's Hinduja Leyland Finance plans to raise 7 billion rupees ($80 million) through the sale of bonds maturing in 10 years, three merchant bankers said on Monday.

The company has invited bids from bankers and investors for the issue later in the day, they said.

The company did not immediately reply to a Reuters email seeking comment.

Here is the list of deals reported so far on March 17:

*Size includes base plus greenshoe for some issues

($1 = 86.9400 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)

(([email protected]))

March 13 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• INDIA'S FEB 2-WHEELER SALES 13,84,605 UNITS - INDUSTRY BODY

• INDIA'S FEB 3-WHEELER SALES 57,788 UNITS - INDUSTRY BODY

• INDIA'S FEB TOTAL DOMESTIC PASSENGER VEHICLE SALES 3,77,689 UNITS - INDUSTRY BODY

• INDIA AUTO INDUSTRY BODY: UPCOMING FESTIVITIES OF HOLI, UGADI IN MARCH LIKELY TO CONTINUE TO DRIVE DEMAND

Further company coverage: ASOK.NS

(([email protected];))

Feb 19 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• BAGGED ORDER FOR SUPPLYING 320 BS VI BUSES TO TAMIL NADU STATE TRANSPORT CORPORATION

• ORDER WORTH 2.98 BILLION RUPEES

Source text: [ID:]

Further company coverage: ASOK.NS

(([email protected];;))

Feb 12 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• ASHOK LEYLAND DEC-QUARTER STANDALONE PROFIT 7.62 BILLION RUPEES

• ASHOK LEYLAND DEC-QUARTER STANDALONE REVENUE FROM OPERATIONS 94.79 BILLION RUPEES

Further company coverage: ASOK.NS

(([email protected];))

Feb 6 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• INDIA'S FADA: OVERALL AUTO RETAIL GREW BY 6.6% YOY IN JAN

• INDIA'S FADA: PERSISTENT CASH-FLOW CONSTRAINTS, SUBDUED INDUSTRIAL DEMAND COULD CAP UPSIDE POTENTIAL

• INDIA'S FADA: SUPPORTIVE POLICIES, POST-BUDGET STIMULUS MAY HELP SUSTAIN SECTOR’S EARLY-YEAR GAINS

• INDIA'S FADA: ONGOING FESTIVE/WEDDING DEMAND, FRESH PRODUCT INTRODUCTIONS COULD SUSTAIN FOOTFALLS IN NEAR-TERM

• INDIA'S FADA: NEARLY HALF OF DEALERS ANTICIPATE GROWTH IN FEB,43% EXPECT SALES TO STAY FLAT,11% FORESEE DIP

• INDIA'S FADA: AUTO RETAIL SECTOR ENTERS FEBRUARY WITH CAUTIOUS OPTIMISM

Source text: [ID:]

Further company coverage: ASOK.NS

(([email protected];;))

Jan 14 (Reuters) -

• INDIA'S DEC TOTAL DOMESTIC PASSENGER VEHICLE SALES 3,14,934 UNITS - INDUSTRY BODY

• INDIA'S DEC 2-WHEELER SALES 11,05,565 UNITS - INDUSTRY BODY

• INDIA'S DEC 3-WHEELER SALES 52,733 UNITS - INDUSTRY BODY

• INDIA'S JAN-DEC TOTAL DOMESTIC PASSENGER VEHICLE SALES 42,74,793 UNITS - INDUSTRY BODY

• INDIA'S JAN-DEC 2-WHEELER SALES 1,95,43,093 UNITS - INDUSTRY BODY

• INDIA'S JAN-DEC 3-WHEELER SALES 7,28,670 UNITS - INDUSTRY BODY

(([email protected];))

Jan 2 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• DEC TOTAL VEHICLES SOLD AT 16957 UNITS

Source text: ID:nBSE88Y1V8

Further company coverage: ASOK.NS

(([email protected];;))

Dec 13 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• ANNOUNCES PRICE INCREASE UP TO 3% EFFECTIVE JANUARY 2025

• ANNOUNCES PRICE INCREASE EFFECTIVE JANUARY 2025

• PRICE INCREASE TO VARY BY MODEL AND VARIANT

• PRICE INCREASE DUE TO INFLATION AND HIGHER COMMODITY PRICES

Source text: ID:nBSE46qG0k

Further company coverage: ASOK.NS

(([email protected];;))

Dec 2 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• NOV TOTAL VEHICLES SOLD AT 14137 UNITS

Source text: ID:nBSEbf4VkJ

Further company coverage: ASOK.NS

(([email protected];;))

Nov 15 (Reuters) - INDIA AUTO DEALERS' BODY FADA:

• NEARLY HIT OUR FORECASTED TARGET OF 4.3 MILLION VEHICLES DURING 42 DAYS FESTIVE PERIOD

• AUTO INDUSTRY YET TO FULLY BENEFIT FROM GOVERNMENT PUSH IN INFRASTRUCTURE SPENDING

• EXPECTS GOVERNMENT PUSH IN INFRASTRUCTURE SPENDING TO BOLSTER COMMERCIAL VEHICLE SALES

• COULD HAVE MET 4.5 MLN UNITS TARGET IF NOT FOR UNSEASONAL HEAVY RAINS IN SOUTH INDIA

• ANTICIPATES CAR STOCK LEVELS WILL REDUCE FURTHER FROM OCTOBER LEVELS

• URGES OEMS TO FOCUS ON LIQUIDATING 2024 STOCK AHEAD OF YEAR END

• LOOKING AHEAD, TRACTORS TO PERFORM BETTER, SUPPORTED BY GOOD RAINFALL, RISE IN MSP OF CROPS

(([email protected];))

MUMBAI, Nov 13 (Reuters) - India's Hinduja Leyland Finance has accepted bids worth 5 billion rupees ($59.27 million) for bonds maturing in three years, three merchant bankers said on Wednesday.

The company will pay a coupon of 9.00% and invited bids from bankers and investors for the issue earlier in the day, they added.

The notes have a put option at the end of 18 months and 24 months.

The company did not immediately reply to a Reuters email seeking comment.

Here is the list of deals reported so far on Nov. 13:

*Size includes base plus greenshoe for some issues

($1 = 84.3580 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Abinaya Vijayaraghavan)

(([email protected]))

MUMBAI, Nov 12 (Reuters) - India's Hinduja Leyland Finance plans to raise 5 billion rupees ($59.24 million) through sale of bonds maturing in three years, three merchant bankers said on Tuesday.

The company has invited bids from bankers and investors for the issue on Wednesday.

The notes have a put option at the end of 18 months and 24 months, the bankers said.

The company did not immediately reply to a Reuters' email seeking comment.

Here is the list of deals reported so far on Nov. 12:

*Size includes base plus greenshoe for some issues

($1 = 84.3990 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Subhranshu Sahu)

(([email protected]))

Nov 8 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• ASHOK LEYLAND Q2 PROFIT 7.7 BILLION RUPEES; IBES PROFIT EST. 5.66 BILLION RUPEES

• ASHOK LEYLAND Q2 REVENUE FROM OPERATIONS 87.69 BILLION RUPEES; IBES EST. 88.12 BILLION RUPEES

• ASHOK LEYLAND DIVIDEND 2 RUPEES

Source text: ID:nnAPN2DKXKI

Further company coverage: ASOK.NS

(([email protected];))

** Shares of automobile maker Ashok Leyland ASOK.NS fall as much as 3.5% to 202 rupees, their lowest since June 4

** ASOK says for the month of Oct, its total vehicles sale fell 9.2% Y/Y while domestic vehicles sale were down 10.7% Y/Y

** ASOK among top pct loser on Nifty Auto index .NIFTYAUTO, which is down 1.4%

** Avg rating of 37 analysts equivalent of "buy", median PT is 270 rupees - LSEG data

** Stock fell 11.6% in the month of Oct, its third straight monthly fall

** Stock last down 2%, cutting YTD gains to 13% vs 26.2% gains by the auto index

(Reporting by Ashish Chandra in Bengaluru)

(([email protected] (+91 7982114624))

Oct 28 (Reuters) - Allison Transmission Holdings Inc ALSN.N:

• ALLISON TRANSMISSION AND ASHOK LEYLAND TO INTRODUCE LOW- FLOOR CITY BUSES EQUIPPED WITH FULLY AUTOMATIC TRANSMISSIONS IN INDIAN STATE OF TAMIL NADU

Source text: ID:nPn5bgVX4a

Further company coverage: ALSN.N

(([email protected];))

Oct 24 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• ASHOK LEYLAND SUBSIDIARY BAGS ORDER FOR 500 ELECTRIC BUSES FROM MTC, CHENNAI

Source text for Eikon: ID:nBSE405Sj7

Further company coverage: ASOK.NS

(([email protected];))

Oct 7 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• INDIA'S AUTO DEALER'S BODY: SEPT OVERALL SALES WITNESSED SIGNIFICANT DECLINE OF -9.26% YOY

• INDIA'S FADA: PASSENGER VEHICLE DEALERS FACING ALL TIME HIGH INVENTORY LEVELS OF 80-85 DAYS

• INDIA'S FADA: PASSENGER VEHICLE DEALERS UNDER FINANCIAL PRESSURE, INCREASED CASH FLOW CHALLENGES

• INDIA'S FADA: URGE RBI TO ISSUE STRICTER RULES ON CHANNEL FUNDING TO MITIGATE DEALERS FINANCIAL RISK

• INDIA'S FADA - MIXED PERFORMANCE OBSERVED ACROSS SEGMENTS IN SEPT

• INDIA'S FADA - MONSOON DISRUPTED RETAIL PERFORMANCE IN REGIONS, NEGATIVELY IMPACTING DEMAND

• INDIA'S FADA - FESTIVE SEASON BOOST WITH BOTH NAVRATRI, DIWALI FALLING IN SAME MONTH,EXPECTED TO UPLIFT SALES

• INDIA'S FADA - FAVOURABLE AGRI CONDITIONS LIKELY TO SPUR RURAL DEMAND FOR 2W, PV, TRAC SEGMENTS
  

Source text for Eikon: [ID:]

Further company coverage: ASOK.NS

(([email protected];))

Oct 3 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• PARTNERS WITH NIDEC FOR DEVELOPING NOVEL E-DRIVE MOTORS FOR COMMERCIAL VEHICLES

Source text for Eikon: [ID:]

Further company coverage: ASOK.NS

(([email protected];;))

Oct 1 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• ASHOK LEYLAND - CO, FLIXBUS INDIA SIGNED MOU

• ASHOK LEYLAND - MOU TO PROVIDE FLIXBUS PARTNERS ACCESS TO CO'S VALUE-ADDED SERVICES

Further company coverage: ASOK.NS

(([email protected];))

Sept 13 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• INDIA'S AUGUST TOTAL DOMESTIC PASSENGER VEHICLE SALES 3,52,921 UNITS- INDUSTRY BODY

• INDIA'S AUGUST 2-WHEELER SALES 17,11,662 UNITS - INDUSTRY BODY

• INDIA'S AUGUST 3-WHEELER SALES 69,962 UNITS - INDUSTRY BODY

• INDIA AUTO INDUSTRY BODY: AS COUNTRY ENTERS FESTIVE SEASON, DEMAND FOR VEHICLES EXPECTED TO GROW

Source text for Eikon: [ID:]

Further company coverage: ASOK.NS

(([email protected];;))

Sept 2 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• ASHOK LEYLAND - AUG TOTAL VEHICLES SOLD 14463 UNITS

Further company coverage: ASOK.NS

(([email protected];))

Aug 14 (Reuters) - Society of Indian Automobile Manufacturers:

• INDIA'S JULY TOTAL DOMESTIC PASSENGER VEHICLE SALES 3,41,510 UNITS - INDUSTRY BODY

• INDIA'S JULY 3-WHEELER SALES 59,073 UNITS - INDUSTRY BODY

• India's July 2-Wheeler Sales 14,41,694 Units - Industry Body

(([email protected];))

** Shares of Ashok Leyland ASOK.NS jump 6% to 246.5 rupees

** Analysts at UBS upgrade the stock to "buy" from "neutral", raises PT to 280 rupees from 190 rupees

** Upgrades stock considering resilience in commercial vehicle demand, a strong pricing environment and favourable valuation

** Stock trading near the average historical valuations, while other automakers are trading above historical valuations, says UBS

** ASOK top gainer on the Nifty Auto index .NIFTYAUTO, which is up 1.2%

** On Thursday, ASOK posted a Q1 profit that missed estimates as tax expenses weighed, even as rev rose 5% y/y

** Analysts rate ASOK "buy" on avg, same as six other stocks on 15-member auto index - LSEG data

** ASOK's 36% YTD gains underperform auto index's near 40% rise

(Reporting by Nishit Navin)

(([email protected];))

BENGALURU, July 25 (Reuters) - India's Ashok Leyland reported a first-quarter profit that missed estimates on Thursday, as tax expenses weighed down the bus and truck manufacturer more than expected.

The Hinduja Group company's profit for the April-June quarter fell 8.8% to 5.26 billion rupees (around $63 million). Analysts had expected 5.66 billion rupees, as per LSEG data.

Its profit jumped more than eight-fold last year due to a larger tax credit.

Revenue rose 5% to nearly 86 billion rupees in the June quarter.

KEY CONTEXT

Ashok Leyland is the first to report June-quarter results among commercial vehicle (CV) makers, whose sales are seen as an indicator of economic activity.

India's CV sales reported a surprise 3.5% growth in the April-June quarter, with Ashok's 6% rise in dispatches to dealers the most among sector leaders.

The growth was in contrast to most analysts' and industry experts' expectation of a fall due to India's general election.

Larger competitors Tata Motors and Mahindra & Mahindra MAHM.NS will report results next week.

PEER COMPARISON

* The mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell

** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT

52-WEEK STOCK PERFORMANCE

Shares of Ashok Leyland have risen about 26% in the last 52 weeks, the least among its competitors.

($1 = 83.7026 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru; Editing by Sherry Jacob-Phillips and Janane Venkatraman)

(([email protected]; Mobile: +91 9591011727;))

July 17 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• HINDUJA TECH SIGNS DEFINITIVE AGREEMENT TO ACQUIRE TECOSIM GROUP GMBH

• DEAL FOR ENTERPRISE VALUE OF ABOUT EUR 21 MILLION

Source text for Eikon: ID:nBSEbBnNsn

Further company coverage: ASOK.NS

(([email protected];))

** Shares of India's Ashok Leyland ASOK.NS rise as much as 2% to 228.69 rupees; last up 1.6%

** Automaker gets 9.81 bln rupees ($117 mln) order to supply 2,104 buses to Maharashtra State Transport Corp

** Auto stocks .NIFTYAUTO up ~1% on the day

** Average rating of 37 analysts covering ASOK is "buy"; median PT is 239 rupees - LSEG data

** YTD stock had risen 23.5% vs 35% gain in NIFTYAUTO

($1 = 83.5350 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected];))

BENGALURU, July 5 (Reuters) - Retail sales of cars in India fell in June for the second straight month as heatwaves across the country deterred customers from purchases despite "substantial discounts", a dealers' body said on Friday.

Passenger vehicle sales fell 6.8% year-on-year in June, a steeper drop than the 1% decline in May, according to data from the Federation of Automobile Dealers Association (FADA), which tracks monthly retail sales from dealers to buyers.

WHY IT'S IMPORTANT

Auto sales are seen as a key indicator of private consumption in India. India's auto industry forms 7% of the country's GDP, as per government data.

CONTEXT

The intense heat in northern India has reduced footfall at dealerships and led to fewer people buying cars, according to analysts.

This especially hurt small cars and electric vehicles.

Subdued retail demand also led to muted wholesales for some carmakers, according to analysts. Tata Motors TAMO.NS attributed the drop to the impact of the Indian elections, in addition to the weather.

Mahindra & Mahindra MAHM.NS also posted weaker-than-expected overall June wholesale growth.

Analysts said concerns around how the government's policies could affect peoples' income might discourage consumers from buying vehicles and hurt automakers' sales to dealerships.

Still, the SUV portfolios of companies, including Maruti Suzuki MRTI.NS, benefitted from strong demand, extending the record-high sales seen in the financial year 2024.

KEY QUOTES

"Despite improved product availability and substantial discounts aimed at stimulating demand, market sentiment remains subdued due to extreme heat resulting in 15% less walk-ins. Dealer feedback highlights challenges such as low customer enquiries and postponed purchase decisions," FADA President Manish Raj Singhania said in a statement.

BY THE NUMBERS

(Reporting by Varun Hebbalalu in Bengaluru; Editing by Sohini Goswami)

(([email protected];))

July 1 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• ASHOK LEYLAND - JUNE TOTAL VEHICLES SOLD AT 14940 UNITS VERSUS 15221 UNITS YEAR AGO

• ASHOK LEYLAND - JUNE TOTAL M&HCV SALES 9519 UNITS VERSUS 9962 UNITS YEAR AGO

Source text for Eikon: ID:nBSE96DhVw

Further company coverage: ASOK.NS

(([email protected];))

June 18 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• RATIO BETWEEN GDRS AND SHARES OF CO HAS BEEN CHANGED FROM 60 : 1 TO 1:1

Further company coverage: ASOK.NS

(([email protected];))

June 11 (Reuters) -

• INDIA'S MAY TOTAL DOMESTIC PASSENGER VEHICLE SALES 3,47,492 UNITS - INDUSTRY BODY

• WITH EXPECTATIONS OF ABOVE NORMAL MONSOON, AUTO INDUSTRY IS OPTIMISTIC OF STEADY GROWTH IN 2024-25 - INDUSTRY BODY

• INDIA'S MAY 3-WHEELER SALES 55,763 UNITS - INDUSTRY BODY

• INDIA'S MAY 2-WHEELER SALES 16,20,084 UNITS - INDUSTRY BODY

Further company coverage: ASOK.NS

(([email protected];))