Ashok Leyland Share Price Rises As Board Plans To Discuss Bonus Issue

Ashok Leyland's share price climbed over 3% following the announcement that its board of directors will convene on May 23 to deliberate on the issuance of bonus shares. This decision will be contingent upon obtaining the necessary regulatory approvals.

In addition to the bonus share proposal, the board will also review the standalone and consolidated audited financial results for the fourth quarter of fiscal 2025. This meeting was previously communicated by the company on May 8.

Recently, Ashok Leyland also declared a final dividend of Rs 4.25 per share, with a face value of Rs 1 each, for the financial year 2025. According to an exchange filing on Friday, the second interim dividend is set to be paid on or before June 14, with the record date established as May 22.

The scrip rose as much as 3.5% to Rs 249 apiece. It pared gains to trade 2.24% higher at Rs 246 apiece, as of 09:24 a.m. This compares to a 0.12% advance in the NSE Nifty 50.

It has risen 16.63% in the last 12 months. Total traded volume so far in the day stood at 13 times its 30-day average. The relative strength index was at 69.

Out of 44 analysts tracking the company, 36 maintain a 'buy' rating, four recommend a 'hold' and four suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies an upside of 3.3%.