Ashok Leyland drops after declaring muted sales growth in May

Ashok Leyland lost 3.35% to Rs 105.25 at 14:26 IST on BSE after the company reported 6% growth in total sales to 9,875 units in May 2016 over May 2015.

The announcement was made during market hours today, 1 June 2016.

Meanwhile, the S&P BSE Sensex was up 109.63 points or 0.41% at 26,777.59

On BSE, so far 27.13 lakh shares were traded in the counter as against average daily volume of 13.06 lakh shares in the past one quarter. The stock hit a high of Rs 111.65 and low of Rs 104.80 so far during the day. The stock had hit a record high of Rs 112.80 on 13 April 2015. The stock had hit a 52-week low of Rs 63.95 on 16 June 2015. The stock had underperformed the market over the past one month till 31 May 2016, rising 2.16% compared with Sensex's 4.14% gains. The scrip, however, outperformed the market in past one quarter, gaining 24.32% as against Sensex's 15.94% gains.

The large-cap company has equity capital of Rs 284.59 crore. Face value per share is Rs 1.

Ashok Leyland reported 8% increase in sales of medium and heavy commercial vehicles (M&HCV) to 7,469 units in May 2016 over May 2015. Sales of light commercial vehicles (LCV) remained unchanged at 2,406 units in May 2016 over May 2015.

Ashok Leyland's net profit dropped 66.5% to Rs 77.02 crore on 26.7% rise in total income to Rs 6028.92 crore in Q4 March 2016 over Q4 March 2015.

Ashok Leyland is the second largest manufacturer of commercial vehicles in terms of sales in India.

Powered by Capital Market - Live News