Ashok Leyland (NSE: ASHOKLEY, BSE: 500477) is a commercial vehicle manufacturing company based in Chennai, India. It is the second largest commercial vehicle company in India in the medium and heavy commercial vehicle (MHCV) segment with a market share of 28% (2007-08). With passenger transportation options ranging from 18 seaters to 52 seaters, Ashok Leyland is a market leader in the bus segment. Eight out of ten metro state transport buses in India are from Ashok Leyland. The company claims to carry over 60 million passengers a day, more people than the entire Indian rail network. In the trucks segment Ashok Leyland primarily concentrates on the 16 ton to 25 ton range of trucks. However AL has presence in all truck ranges from 7.5 tons to 49 tons and of late, it has been trying to improve its presence in the Light Commercial Vehicle (LCV) segment (
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