Ashok Leyland accelerates on strong July sales

Ashok Leyland jumped 3.17% to Rs 22.75 at 14:55 IST on BSE after the company said its total sales jumped 25% to 9,785 units in July 2012 over July 2011.

The company announced the monthly sales data during trading hours today, 2 August 2012.

Meanwhile, the BSE Sensex was down 56.81 points or 0.33% to 17,200.57.

On BSE, 14.61 lakh shares were traded in the counter as against average daily volume of 9.43 lakh shares in the past one quarter.

The stock hit a high of Rs 22.85 and a low of Rs 21.85 so far during the day. The stock had hit a 52-week high of Rs 32.90 on 2 May 2012. The stock had hit a 52-week low of Rs 20.05 on 22 December 2011.

The stock had underperformed the market over the past one month till 1 August 2012, falling 11.62% compared with the Sensex's 0.99% fall. The scrip had also underperformed the market in past one quarter, tumbling 31.63% as against Sensex's 0.35% fall.

The mid-cap company has an equity capital of Rs 266.07 crore. Face value per share is Re 1.

Ashok Leyland's light commercial vehicle (LCV) Dost which was launches last year clocked sales of 2,803 units in July 2012. Ashok Leyland's commercial vehicles sales, excluding LCV Dost, declined 11% to 6,982 units in July 2012 over July 2011.

Ashok Leyland's net profit fell 22.4% to Rs 66.94 crore on 18.4% growth in net sales to Rs 2940.98 crore in Q1 June 2012 over Q1 June 2011.

Ashok Leyland, the flagship of the Hinduja Group, is the second largest maker of commercial vehicles in India after Tata Motors.

Powered by Capital Market - Live News