Ashok Leyland falls 4% as November auto sales decline

The stock dipped 4% to Rs 107 on the BSE, close to its 52-week low of Rs 103 after the commercial vehicle major registered a 9% decline in auto sales in November.

Shares of Ashok Leyland skid 4% to Rs 107 apiece on the BSE after the commercial vehicle maker registered a 9% decline in auto sales in November.

Total sales of Light Commercial Vehicle (LCV) and Medium and Heavy Commercial Vehicle (M&HCV) stood at 13,121 units in the month of November. The company had sold 14,457 units in the same month last year.

M&HCV sales declined 18% to 8,718 units as compared to 10,638 units, a year ago. LCV sales, however, increased 15% to 4,403 units.

Between April and November, total sales rose by 26% to 122,357 units. In the same period last year, total sales were at 96,888 units.

At 10:05 am; Ashok Leyland was trading at Rs 108 on the BSE, as compared to 0.49% rise in the S&P BSE Sensex. The stock quoting close to its 52-week low of Rs 103 touched on October 5, 2018, in intra-day trade. A combined 12.16 million equity shares changed hands on the counter on the BSE and NSE so far.