Ashok Leyland, a major commercial vehicle manufacturer, has partnered with Punjab Gramin Bank to provide new vehicle financing options for its customers. The collaboration aims to offer tailored financial solutions with flexible repayment plans.
Following the announcement, Ashok Leyland’s shares saw a positive reaction, gaining 3% in Friday’s trade and reaching a day’s high of Rs 132.20 per share on the BSE.
A Memorandum of Understanding (MoU) was signed by Viplav Shah, Head–LCV Business at Ashok Leyland, and A.K. Mittal, General Manager of Punjab Gramin Bank. The partnership is expected to strengthen Ashok Leyland’s market position by using the bank’s extensive network to make vehicle ownership more accessible and convenient for customers.
G.K. Negi, Chairman of Punjab Gramin Bank, expressed confidence that the partnership will be mutually beneficial and will have a “significant positive impact” on the commercial vehicle sector. Ashok Leyland, the flagship company of the Hinduja Group, offers a wide range of trucks and buses and is also expanding its portfolio to include vehicles powered by alternative fuels as part of its commitment to reducing emissions.
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