India's Ashok Leyland jumps to record on unit's merger approval

** Shares of Ashok Leyland ASHOKLEY rise as much as 6.39% to 158.47 rupees apiece, a record high

** Truck manufacturer's unit Hinduja Leyland Finance 7789HLFL27 approves its merger with real estate firm NDL Ventures NDLVENTURE

** Shares of NDL Ventures currently up 0.3%

** 25 shares of NDL will be issued for every 10 shares of Hinduja Leyland as per exchange filing by Ashok Leyland

** Trading vols 48.1 million shares vs 30-day average of 13.9 million shares

**Stock rated "Buy" on average by 36 analysts with median PT at 160 rupees as per data compiled by LSEG

** YTD, ASOK up 43.23%