Ashok Leyland Limited
ICICI Prudential Mutual Fund disclosed a 1.13% stake in Ashok Leyland Limited, holding 6,55,71,791 shares at the end of the period, up from under 1% in the previous filing.
A leading manufacturer of medium and heavy commercial vehicles, the company operates through a vertically integrated manufacturing setup with a strong brand presence. It maintains an extensive distribution and service network across India and operates in fifty countries globally. Headquartered in Chennai, the company also runs driver training institutes that have trained over eight hundred thousand drivers since its inception.
India's second-largest AMC by AUM with over Rs 9 lakh crore managed across 80+ schemes. Joint venture between ICICI Bank and Prudential plc. CIO S. Naren is one of India's most recognised value investors, known for contrarian macro calls and rotating across market caps well ahead of consensus. ICICI Pru's quarterly portfolio disclosures are among the most closely watched in the industry.