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The board agreed to infuse in one or more tranches for UHM India to meet the business requirements of OHM India, Ashok Leyland said in its exchange filing. ....
The acquisition is a part of the company s EV strategy to engage in the business of eMaaS (e-Mobility as a Service). This would likely result in enhancing the operational efficiency and synergy, it added. OHM India is envisaged to operate in transportation, logistics operation and management and eMaaS. ....
Shares of Ashok Leyland, on Thursday, surged 7 per cent to Rs 124.80 on the BSE after the commercial vehicles major said it has decided to form two new subsidiaries as part of its plans to strengthen green transport solutions. The company, through its subsidiary Switch Mobility Ltd the UK-based electric vehicle producer of buses and vans, is creating two units, Ashok Leyland said in a statement. The first unit Switch Mobility Automotive Ltd is being formed to carry on the electric vehicle strategy in India and forms part of its global entity. The second subsidiary OHM Global Mobility Pvt Ltd will focus on providing mobility as a service offering, it said. ....
Here are the top stocks that are likely to be in focus today: Muthoot Finance: The company is planning to raise Rs 1,700 crore through public issue of secured redeemable non-convertible debentures. The issue opens on April 8 and will close on April 29. Reliance Industries: Sebi imposed a total penalty of Rs 25 crore on Mukesh Ambani, Anil Ambani, other individuals and entities for non-compliance with takeover norms in a Reliance Industries case dating back to 2000. Ashok Leyland: The company said it has decided to form two new subsidiaries as part of its plans to strengthen green transport solutions. The first unit Switch Mobility Automotive Ltd is being formed to carry on the electric vehicle strategy in India and forms part of its global entity. The second subsidiary OHM Global Mobility Pvt Ltd will focus on providing mobility as a service offering. ....