Ashok Leyland, the 2nd largest commercial vehicle manufacturer in India, witnessed a rise in share price on Monday after it has signed MoU (Memorandum of Understanding) with Bank of Maharashtra whereby Bank of Maharashtra will extend retail financing to customers of Ashok Leyland's commercial vehicles. With this tie-up, Ashok Leyland will have access to 1700 branches of Bank of Maharashtra and will be able to provide more efficient and effective service to its customers.

Shares of the company are trading at Rs 46.15, up Rs 0.4, or 0.87% at the Bombay Stock Exchange (BSE) on Monday at 10:32 a.m.

The scrip has touched an intra-day high of Rs 46.35 and low of Rs 45.80. The total volume of shares traded at the BSE is 722,981.