Ashok Leyland drops after reporting poor sales in July

Ashok Leyland fell 2.72% to Rs 92.85 at 12:15 IST on BSE after the company reported 5% fall in total sales to 10,492 units in July 2016 over July 2015.

The company announced the monthly sales volume data during market hours today, 1 August 2016.

Meanwhile, the S&P BSE Sensex was up 26.43 points or 0.09% at 28,078.29

On BSE, so far 31.64 lakh shares were traded in the counter as against average daily volume of 15.51 lakh shares in the past one quarter. The stock hit a high of Rs 97.15 and a low of Rs 92.80 so far during the day. The stock had hit a record high of Rs 112.80 on 13 April 2016. The stock had hit a 52-week low of Rs 77.85 on 25 August 2015. The stock had underperformed the market over the past one month till 29 July 2016, falling 3.54% compared with 4.9% rise in the Sensex. The scrip also underperformed the market in past one quarter, falling 10.46% as against Sensex's 9.55% rise.

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

Ashok Leyland reported 7% fall in sales of medium and heavy commercial vehicles (M&HCV) to 8,182 units in July 2016 over July 2015. Sales of light commercial vehicles (LCV) rose 4% to 2,310 units in July 2016 over July 2015.

Ashok Leyland's net profit rose 101.2% to Rs 290.78 crore on 11.4% growth in total income to Rs 4352.79 crore in Q1 June 2016 over Q1 June 2015.

Ashok Leyland is one of the leading manufacturers of medium and heavy commercial vehicles in India.

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