Ashok Leyland hit fresh lifetime high post March sales

Thus far in the calendar year 2016, the stock rallied 25% as compared to 3.5% decline in the S&P BSE Sensex.

Ashok Leyland has extended gains to hit fresh record high of Rs 111 on the National Stock Exchange (NSE) after the commercial vehicles maker today reported a 31% increase in total sales at 16,702 units in March. The company had sold 12,754 units in the same month last year.

The sales of medium and heavy commercial vehicles (M&HCV) jumped 32% to 13,240 units in March as against 10,027 in the same month a year ago, Ashok Leyland said in a statement.

Light commercial vehicles (LCV) sales went up 27% to 3,462 units as against 2,727 in March 2015.

For the financial year 2015-16 (April 2015 to March 2016), Ashok Leyland reported 34% increase in total sales at 140,457 units over the previous fiscal.

The company had reported 17% year-on-year growth in total sales at 104,902 units during the previous financial year 2014-15.

Thus far in the calendar year 2016, the stock has outperforming the market by appreciating 25% as compared to 3.5% decline in the S&P BSE Sensex.

Till 11:42 AM, a combined 6.65 million shares changed hands on the counter on the NSE and BSE.