The Hinduja Group Company has been the most preferred brand of TNSTC with more than 18,477 Ashok Leyland buses operational in its fleet.

The new ULE buses boast features like the powerful H-series 6-cylinder 4-valve 184 kW (246 hp) engine, a step-less entry, rear engine configuration, automatic transmission, front disc brake, electronically controlled front and rear air suspension, and an intelligent transportation system with CCTV, destination boards reflecting vehicle location, and tracking.

This project is funded by the German Development bank (KfW). Ashok Leyland will commence the delivery of these buses from April 2024.

Shenu Agarwal, MD & CEO, Ashok Leyland, said, “We are honored to partner with TNSTC towards the realization of the 'Mobility for All' initiative. As we strive to meet the rapidly expanding public mobility needs of our country, our in-depth understanding of markets and customers remains the cornerstone that distinguishes us and has been instrumental in securing these orders.”

Ashok Leyland is engaged in manufacture and sale of a wide range of commercial vehicles. The company also manufactures engines for industrial and marine applications, forgings and castings.

The company had reported net profit of Rs 561.01 crore in Q2 FY24, steeply higher from Rs 199.31 crore posted in corresponding quarter last year. Revenue from operations jumped 16.6% year-on-year to Rs 9,638.04 crore in Q2 FY24.

The scrip has shed 0.53% to currently trade at Rs 169.15 on the BSE.