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Ashok Leyland issues bonus shares, to export 20% of India-made mini-vans

Shares of the auto major were trading at Rs 26.65 on BSE, up 3.5 per cent from their previous close, at 11.55 am. Total volume of shares exchanged on the bourses was 707,496.

BT Online Bureau | August 2, 2011 | Updated 12:16 IST

Ashok Leyland, one of India's leading commercial vehicle maker, is issuing bonus shares on Tuesday. The company had on June 15 announced the same in a filing to the Bombay Stock Exchange (BSE).

The bonus shares are being issued in a ratio of 1:1. The record date has been fixed at August 03, 2011.
 
Shares of the auto major were trading at Rs 26.65 on BSE, up 3.5 per cent from their previous close, at 11.55 am. Total volume of shares exchanged on the bourses was 707,496.
 
For the year ended March 2011, company reported a sales turnover of Rs 12,393.36 crore and net profit of Rs 631.30 crore.

Meanwhile, Ashok Leyland, along with its Japan-based joint venture partner Nissan Motor, on Monday said it will export 20 per cent of its proposed mini-vans to be produced in the country.

"We will launch the passenger-carrying vehicle, or the mini-van if you prefer, some time next year. We will produce around 55,000 units. We wish to export 20 per cent of this to nearby markets," Nissan's executive vice president Andy Palmer had said.

Palmer, however, said in an interview that since their 51:49 joint venture, named Ashok Leyland Nissan Vehicles, does not have dedicated factory of their own yet, these will be produced at the unit of another joint venture Renault-Nissan Automotive.

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