Ashok Leyland hits 4-year low on disappointing June sales

Total sales down 32% yoy at 6,967 units in June against 10,146 units during the same month year ago.

Ashok Leyland has dipped 6.5% to Rs 18.85, its lowest value since August 2009 on BSE, after it reported 32% year-on-year (yoy) drop in total sales at 6,967 units during the month of June 2013. The commercial vehicles maker had sold 10,146 units in the same month of previous year.

The volumes continue to be impacted by the slowdown in the medium and heavy commercial vehicle segment which led to a 37.3% yoy decline in commercial vehicle sales (ex. Dost). Dost volumes, too reported a decline of 17.3% yoy to 2,253 units.

Meanwhile, the company has reported 20.9% yoy decline in its total sales at 21,721 units during the first three months (April-June) of current financial year 2013-14.

The stock has opened at Rs 20.05 and seen heavy activities on the counter. A combined 8.44 million shares have already changed hands till 1355 hours against an average sub 4 million shares that were traded daily in past two weeks on BSE and NSE.