Ashok Leyland bags Rs 1,140 cr export order from Tanzania
The new order from Tanzania, valued at $170 million, fast on the back of the $200 million by Cote D'Ivore
New Delhi: Hinduja flagship firm Ashok Leyland Thursday said it has bagged order worth $170 million (about Rs 1,140 crore) from Tanzania to supply vehicles, gensets and spares, among others.
The order also includes supply of equipment for development of workshops, training modules and allied equipment to be fitted on ambulances, Ashok Leyland said in a BSE filing.
"The new order from Tanzania, valued at $170 million, fast on the back of the $200 million by Cote D'Ivore also reiterates the market acceptance of Ashok Leyland's products in the African region," Ashok Leyland Managing Director Vinod Dasari said.
He further said export to key international markets is an essential part of the company's strategic intent to globalise its product and derisk itself from supplying only into India.
The latest order is being financed fully by EXIM Bank of India under National Insurance Account (NEIA) scheme.
Recently, the company had concluded the supply of 773 vehicles to Tanzania under Line of Credit from the Indian government.
"Further, the company is executing another order for supply of 777 vehicles to the Ministry of Home Affairs in Tanzania," the company said.
BSE Midcap fell by 1.98 percent to 26,418.28 while BSE Smallcap declined by 1.79 percent to 29,562.60
Market Roundup: BSE touches lifetime high of 61,963, Nifty surges 138 pts; check top winners and losers
Taking its winning streak to the seventh session, equity benchmark Sensex rallied 460 points to finish at a fresh lifetime peak on Monday, tracking heavy buying in banking, IT and metal stocks
BSE Midcap saw a rise of 1.56 percent to end up 408.47 points higher at 26,556.43, while BSE Smallcap rose by 0.59 percent to end up 173.15 points higher at 29,755.41.