Rivigo orders 1,200 Ashok Leyland medium, heavy vehicles

Ashok Leyland, which is the flagship Company of the Hinduja Group, announced that it has bagged orders for 1,200 medium and heavy vehicles from Rivigo. Rivigo is a new-age logistics start-up which plans to expand its pan India operations.

This purchase of the additional vehicles will help Rivigo expand its fleet size by almost 80 per cent to 2,700 vehicles in the next 6-7 months. The order comprises of Ashok Leyland product - the BOSS.

The BOSS is a revolutionary Intermediate Commercial Vehicle (ICV) that seamlessly combines the strength and ruggedness of a truck, with the comfort of a car to ensure vehicles do not stop on the highways, says a company statement.

Rivigo operates across diverse segments such as e-commerce, pharma, auto, FMCG, textiles, electronics, and consumer durables, the statement said.

Meanwhile Ashok Leyland share price is currently trading at Rs 87.50, up by 0.92 per cent. The intraday high and the intraday low so far are Rs 88.55 and Rs 86.80 respectively. The share price opened at Rs 86.85 from a previous closing of Rs 86.70. A total of 81,77,940 shares of the Company has been traded on NSE since this morning. The lower price band of the share is 78.05 and the upper price band is Rs 95.35. The 52 week high of Rs 112.90 was made on 13th April 2016 and the 52 week low of Rs 77.70 was made on 1th February 2016.

Ashok Leyland is trading at a P/E of 28.97. The Promoter holding pledged of the Company is 6.79 per cent. As of today the market cap of Ashok Leyland is Rs 24673.75 crore.