Ashok Leyland shares hit record high on EV battery investment
Ashok Leyland's stock hit a record ₹142.65 on September 19, climbing 3% in a day and up 11% this month.
Over the past six months, shares have soared about 41%, fueled by strong commercial vehicle demand and solid financial results.
The latest boost? A major ₹5,000 crore investment plan for next-gen batteries over the next 10 years.
Ashok Leyland's lithium battery plant to boost EV transition
This isn't just about numbers—Ashok Leyland is teaming up with China's CALB Group to set up a local lithium battery plant and Center of Excellence in India.
With ₹300-600 crore going into this project over the next few years and production expected by early 2027, it could speed up India's shift to electric vehicles.
Strong Q1 FY25 results and GST cuts' impact on stock
Strong Q1 FY25 results helped too: revenue grew to ₹8,725 crore (up 1.5% year-on-year), net profit jumped 13%, and commercial vehicle sales hit record highs.
Plus, recent GST cuts on automobiles are expected to push freight demand even higher—good news for Ashok Leyland's future growth.