Ashok Leyland gained on Tuesday after the company bagged orders for 4000 buses from State Transport Undertakings (STUs). The company is the largest recipient of orders for buses under JNNURM-II scheme worth nearly Rs 15 billion.

A total of 22 STUs across the country including Calcutta State Transport Corporation (CSTC), Bangalore Metropolitan Transport Corporation (BMTC), Andhra Pradesh State Road Transportation Corporation (APSRTC), Jaipur City Transport Services (JCTSL) and Pune Mahannagar Parivahan Mahamandal (PMPML) have played large orders on the company.

Shares of the company gained Rs 1.5, or 3.89%, to trade at Rs 40.10. The total volume of shares traded was 1,802,161 at the BSE (10.18 a.m., Tuesday).

The scrip has touched an intra-day high of Rs 40.45 and low of Rs 38.20. The total volume of shares traded at the BSE is 1,802,161.