Ashok Leyland eyes over Rs 2,000 crore from defence business in 5 years
Posted on 5th October 2016 |
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| Hinduja group flagship Ashok Leyland expects its defence business to log four-fold jump in revenues at over Rs 2,000 crore in next five years as it gears up to provide an entire range of mobility solutions, including missile carrying vehicles, to the armed forces. "In defence, we have got tremendous growth. We have won 13 out of the last 15 tenders..We are today a Rs 500 crore company in defence and in five years we should be well above Rs 2,000 crore," Ashok Leyland MD Vinod Dasari told PTI. The company aims to accomplish its revenue targets even as it remains entirely focused just on the mobility part, he added. "We are not going to make guns, we are not going to make ammunition. Anything in armed forces that requires movement we will move. This is an extension of our core competency. We are not going to diversify, mobility will be the focus," Dasari said. The company has moved up the value chain from just the provider of 4X4 vehicles to the army and now provides a range of solutions, including products to move large missiles. "We have gone from just making 4X4 vehicles to 6X6 and 8X6. We make bridge launchers on 10X10. We have already won tenders for that, we have 12X12 that can carry a missile," Dasari said. Ashok Leyland Defence Systems (ALDS), a division of Ashok Leyland, manufactures various products catering to all logistics requirements including troop/load carrying vehicle, light recovery vehicles, field artillery tractor and truck fire fighting, among others. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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