Ashok Leyland shares hit year high after Aug sales

Ashok Leyland, the Hinduja Group flagship company, today surged over 2 per cent to hit a year high on BSE in early trade, a day after the bus maker reported robust vehicle sales for August.

Shares of the company gained 2.41 per cent to touch a 52-week high of Rs 76.30 on the Bombay Stock Exchange.

The scrip witnessed a similar upmove on the National Stcok Exchange and rose 2.35 per cent to Rs 76.20 in the morning trade.

Yesterday, Ashok Leyland posted a 56.35 per cent jump in commercial vehicle sales at 7,480 units in August compared to 4,784 units in the same month last year.

Other counters in the auto sector were also trading in the positive terrain, led by the country's largest two-wheeler maker Hero Honda.

Hero Honda rose by 1.76 while Mahindra & Mahindra gained 1.74 per cent on BSE.

Among other gainers, country's largest car manufacturer Maruti Suzuki rose by 0.15 per cent and Tata Motors by 0.20 per cent.