Shares of commercial vehicle major Ashok Leyland surged in early trade on Thursday, November 27, after the company announced that its board had cleared a key merger proposal. The stock jumped 5 per cent to a new 52-week high of ₹156.40 on the NSE during intraday deals.
The counter has seen a sharp rebound this year, gaining nearly 63 per cent from its 52-week low of ₹95.93, recorded on April 7. Strong investor interest continued on Thursday, with the stock trading at ₹155.88 at 09:57 AM—up 4.65 per cent from the previous close of ₹148.95.
Market sentiment also remained positive, with the benchmark Nifty50 edging higher by 67.40 points, or 0.26 per cent, to 26,272.70.
During the morning session, a combined 21 million shares, worth ₹323.13 crore, were traded on the NSE and BSE. Ashok Leyland’s market capitalisation on the NSE stood at ₹91,138.73 crore as of November 27.
Board Approves HLFL–NDL Ventures Merger Scheme
In a regulatory filing, Ashok Leyland said its board has approved a scheme for the merger of Hinduja Leyland Finance Limited (HLFL) with NDL Ventures Limited (formerly NXTDIGITAL Limited). The move is subject to approvals from SEBI, the National Company Law Tribunal (NCLT), stock exchanges, and other statutory authorities, along with the consent of shareholders and creditors.
Under the approved share exchange ratio, NDL Ventures will issue 25 fully paid-up equity shares of ₹10 each for every 10 equity shares of ₹10 each held in HLFL.
The company added that the appointed date for the merger—an absorption of HLFL into NDL Ventures—has been set as April 1, 2026, unless otherwise directed by the NCLT or other competent authorities.
The announcement of the merger scheme has boosted market sentiment around Ashok Leyland, with investors anticipating long-term strategic gains from the restructuring within the Hinduja Group.
