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Ashok Leyland Shares Rally 40% In 6 Months, Hits Fresh High

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Ashok Leyland Shares Rally 40% In 6 Months, Hits Fresh High


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Ashok Leyland extended its rally for the fourth straight session on Friday, September 19, with shares climbing another 3%

Ashok Leyland Shares

Ashok Leyland Shares

Commercial vehicle maker Ashok Leyland extended its rally for the fourth straight session on Friday, September 19, with shares climbing another 3% to hit a fresh lifetime high of Rs 142.65 apiece. The stock has now gained 11% so far in September.

The latest surge comes after the company announced earlier this month that it will invest Rs 5,000 crore over the next decade to develop next-generation batteries for automotive and non-automotive applications, including energy storage systems.

The investment is part of Ashok Leyland’s larger ambition to play a key role in building India’s electrification ecosystem. To establish a localised battery supply chain, the company has partnered with China-based CALB Group, one of the world’s leading battery technology companies.

CALB, counted among China’s top five EV battery makers alongside CATL, BYD, Gotion High-Tech, and EVE Energy, has an operational capacity of over 90 GWh. Its client list includes automakers such as XPeng, Changan, Geely, and Guangzhou.

As part of the plan, Ashok Leyland will invest Rs 300–600 crore over the next 2–3 years to set up a lithium battery pack manufacturing facility and a Center of Excellence, aimed at driving innovation in battery materials, recycling, battery management systems, and advanced manufacturing processes.

Production of battery packs is expected to begin by the first half of CY27, initially for captive use. The company plans to later expand capacity to serve external demand from passenger vehicles, two-wheelers, three-wheelers, and non-auto sectors, with a focus on LFP cathode chemistry.

Adding to the optimism, analysts expect the recent GST rate cut on automobiles to support commercial vehicle demand by spurring consumption, boosting freight movement, and triggering replacement demand.

Ashok Leyland share price up 40% in 6 months

In the last six months, Ashok Leyland shares have surged from Rs 101 apiece to around Rs 141.20, delivering gains of 41%. The stock has closed five of the past six months in the green, with April posting the strongest monthly gain at 10.33%.

Brokerages remain bullish after the company posted record numbers in Q1FY25. Ashok Leyland reported its highest-ever Q1 revenue of Rs 8,725 crore, up 1.5% from Rs 8,598 crore a year earlier, along with record quarterly CV volumes of 44,238 units.

Net profit rose 13.4% year-on-year to Rs 594 crore, compared to Rs 525 crore in the same quarter last year, beating analyst expectations.

Aparna Deb

Aparna Deb

Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More

Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More

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Oil nears highest price since start of Iran war

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Oil nears highest price since start of Iran war



The US-Israel Iran war has halted almost all traffic in a key waterway and the price Brent crude has surged.



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Crunch talks between resident doctors and ministers set to continue

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Crunch talks between resident doctors and ministers set to continue



Crunch talks between resident doctors and the Government are set to continue in a bid to avert strike action.

Sir Keir Starmer has given the resident doctors committee of the British Medical Association (BMA) a deadline to reconsider a deal on pay and jobs which includes an offer of thousands of extra NHS training posts.

It is understood the proposal will be removed from the deal if resident doctors in England press ahead with a six-day strike from April 7 in a row over jobs and pay.

Dr Jack Fletcher, chairman of the resident doctors committee of the union, said: “It is wrong for Government to withhold desperately-needed jobs as part of negotiating tactics.

“Anyone who works in the NHS knows that patients need these 4,000 jobs created as soon as possible.

“We made that very clear to Government in our meetings today.

“We are not interested in arbitrary deadlines – we will be looking to get this dispute ended right up to the last minute.

“We believe there is a deal there to be done if Government is willing to withdraw the changes it made at the last minute that reduced the funding for pay rises. Talks continue.”

It comes as senior medics announced they were escalating their disputes with the Government.

Consultants and other senior doctors are to be balloted on industrial action after ministers announced they would be getting a 3.5% pay award.

Simultaneous ballots of consultants and specialist, associate specialist and specialty (SAS) doctors will run from May 11 until July 6.

Addressing resident doctors, Prime Minister Sir Keir Starmer wrote in The Times: “The truth is this: no-one benefits from rejecting this deal.

“Resident doctors will be worse off. Instead of improved pay, progression and support, they will receive the standard pay award this year, with none of the reforms that would have strengthened their working lives.”

The deal sets out a minimum of 4,000 new additional specialty posts to be delivered over the next three years.

NHS England boss Sir Jim Mackey confirmed the offer to expand training places will “come off the table” if an agreement is not reached.

The walkout, which is due to run from 7am on April 7 until 6.59am on April 13, will be the 15th round of strikes by resident doctors in England since 2023.

In a letter to health leaders, Mike Prentice, national director for emergency planning at NHS England, wrote: “We expect this round to be challenging as there is a shorter notice period, bank holidays within the notice period and the action itself falling during the Easter holidays.

“This will represent a significant strain on staffing resources to provide safe cover.”



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Iran oil returns: India set to receive first cargo in 5 years, tanker heads to Gujarat – The Times of India

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Iran oil returns: India set to receive first cargo in 5 years, tanker heads to Gujarat – The Times of India


India is set to receive its first shipment of Iranian crude oil since 2019, with a tanker carrying 600,000 barrels of oil en route to Gujarat following a temporary sanctions waiver by the US, according to PTI.Ship-tracking data indicates that the vessel Ping Shun is headed towards Vadinar port, marking a potential revival of Indo-Iran oil trade after nearly five years.“The Indo-Iranian oil trade has flickered back to life. Following the US administration’s decision to grant a 30-day window for Iranian oil “on the water” due to regional conflict, the vessel Ping Shun is now en route to Vadinar (in Gujarat) with 600,000 barrels of crude. This is the first such delivery since May 2019 and comes at a critical time for Indian refiners facing tightening inventories,” said Sumit Ritolia, Lead Research Analyst, Refining and Modelling at Kpler.The development follows Washington’s decision earlier this month to allow a 30-day window for the purchase of Iranian oil already at sea, aimed at easing global oil prices amid the ongoing US-Israel conflict with Iran. The window is set to expire on April 19.While the buyer of the cargo remains unidentified, Vadinar houses a 20 million tonnes per annum refinery operated by Rosneft-backed Nayara Energy and also serves as a landing point for crude supplies to inland refineries such as BPCL’s Bina unit.India’s oil ministry has so far maintained that any decision to resume imports from Iran will depend on techno-commercial viability.Before sanctions were tightened in 2018, India was among the largest buyers of Iranian crude, importing both Iran Light and Iran Heavy grades due to refinery compatibility and favourable pricing terms.Imports ceased in May 2019 after US sanctions were reimposed, with India shifting to alternative suppliers including the Middle East and the US. At its peak, Iranian crude accounted for 11.5 per cent of India’s total imports.India had imported about 518,000 barrels per day (bpd) of Iranian oil in 2018, which declined to 268,000 bpd between January and May 2019 during a sanctions waiver period before dropping to zero thereafter.“The Aframax Ping Shun (IMO 9231901) loaded with Iranian crude oil from Kharg Island in early March has emerged as the first vessel observed signalling a destination of Vadinar, India since May 2019, following sanction reimposition on Iranian oil by the first Trump administration,” Ritolia said.The tanker is estimated to have loaded around 600,000 barrels from Kharg Island around March 4 and is expected to reach Vadinar on April 4.An estimated 95 million barrels of Iranian oil are currently stored on vessels at sea, of which around 51 million barrels could be supplied to India, while the rest may be directed to China and Southeast Asian markets.However, payment mechanisms remain uncertain as Iran continues to be excluded from the SWIFT global banking system, complicating international transactions.Earlier, payments were routed in euros through Turkish banks, but that channel is no longer available following renewed sanctions restrictions.Iran was first disconnected from SWIFT in 2012 due to EU sanctions over its nuclear programme, with further disruptions in 2018 after the US reimposed sanctions, limiting its ability to receive payments and access foreign currency reserves.



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