Ashok Leyland Promoter Pledge: All You Need To Know
Ashok Leyland is in focus after the company announced on exchanges on Wednesday that its EV business Switch UK has begun a consultation process for the cessation of manufacturing facility in the UK. While this has been seen as positive by most analysts in their brokerage notes today as the company failed to meet expectation, the stock is impacted due to the additional promoter pledge seen yesterday.
This is largely seen as an aftermath to the sharp fall in the share price of IndusInd Bank. Both the companies have the Hinduja Family as the promoter.
As of December 31, 2024, the promoter had pledged 15.38% of its stake. On March 26, 2025, the company created an additional pledge of 10.21%, taking the total pledge to 25.59%.
In terms of percentage of holding, currently 49.2% of promoter holding is pledged. This is roughly Rs. 16,152 crore as of yesterday's close.
Going forward, the promoter pledge will be a key monitorable. When asked on the same, Shenu Agarwal, MD & CEO, Ashok Leyland, said he is not privy to current promoter pledge increase or the use of the funds but reiterated the utmost focus on Ashok Leyland by the promoter family.
Ashok Leyland share price declined on Thursday following the news of additional pledge of 10.21% by the promoters. Shortly after open, Ashok Leyland's share price declined 4.56% to Rs 205.17 apiece, the lowest level since March 19. However, the stock pared losses later. At 12:30 pm, the stock was trading 0.82% lower at 213.21 apiece.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
