Ashok Leyland moves to strip non-core assets

Hinduja Group flagship company Ashok Leyland has completed the sale of residential properties in Chennai for a total consideration of Rs 210 crore, as part of its strategy to sell non-core assets.

The company has completed the sale of the residual section of one of its residential properties at Chennai as part of its strategy to sell non-core assets, Ashok Leyland said in a filing to the Bombay Stock Exchange on Tuesday.

"With this transaction, the sale of the entire property stands completed for a total consideration of Rs 210 crore, the proceeds of which has since been received by the company fully," the company added.

Hinduja Group flagship company Ashok Leyland shares on Tuesday closed at Rs 37.80 apiece on the BSE, up 7.39 per cent from its previous close. 

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