Ashok Leyland declines after suspending production at various plants

Ashok Leyland slipped 3.08% to Rs 66 after the company said that its plants at various locations will observe non-working days from 2-15 days in October 2019 to align production.

The announcement was made after market hours on Friday, 4 October 2019.

Shares of Ashok Leyland rose 3.26% in the past two trading sessions to settle at Rs 68.10 yesterday, 4 October 2019, from its close of Rs 65.95 on 1 October 2019.

Meanwhile, the S&P BSE Sensex was up 153 points or 0.41% to 37,825.95.

On the BSE, 3.57 lakh shares were traded in the counter so far compared with average daily volumes of 35.29 lakh shares in the past two weeks. The stock hit an intraday high of Rs 66.60 and an intraday low of Rs 65.05 so far during the day.

The stock hit a 52-week high of Rs 123 on 17 October 2018. The stock hit a 52-week low of Rs 56.95 on 23 August 2019.

Ashok Leyland's consolidated net profit tanked 40.6% to Rs 248.84 crore on a 7.5% decline in net sales to Rs 6,514.73 crore in Q1 June 2019 compared with Q1 June 2018.

Ashok Leyland is engaged in commercial vehicles and related components. It is engaged in manufacturing and trading in medium and heavy commercial vehicle, light commercial vehicles, passenger vehicles, automotive aggregates, vehicle financing and engineering design services.

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