ASHOK LEYLAND PLANS TO SET UP EV BATTERY PROJECT IN BHANDARA

Commercial vehicle manufacturer

is evaluating setting up an electric vehicle (EV) battery manufacturing plant as part of it's industrial expansion in Bhandara, Maharashtra, which could entail an investment between Rs 10,000 crore and Rs 15,000 crore. If the company proceeds with the project, it would significantly boost capital expenditure in the industrial region. Having a market cap of Rs 94,716 crore, the company has delivered good profit growth of 84% CAGR over last 5 years. With new expansion plans in the EV battery segment, the company's profits are expected to further grow in the coming years. Moreover, the company has also been maintaining a healthy dividend payout of 59% thereby making it a good investment option for regular income.