Ashok Leyland drops on profit booking

Ashok Leyland lost 0.89% to Rs 22.35 at 11:25 IST on BSE, with the stock sliding on profit booking after recent rally.

Meanwhile, the S&P BSE Sensex was up 109.41 points or 0.5% at 22,204.71.

On BSE, so far 50.02 lakh shares were traded in the counter as against average daily volume of 12.91 lakh shares in the past one quarter.

The stock was volatile. The stock lost as much as 3.32% at the day's low of Rs 21.80 so far during the day. The stock rose as much as 4.87% at the day's high of Rs 23.65 so far during the day. The stock had hit a 52-week low of Rs 11.82 on 29 August 2013. The stock had hit a 52-week high of Rs 24.55 on 30 May 2013.

The stock had outperformed the market over the past one month till 26 March 2014, surging 43.63% compared with the Sensex's 5.28% rise. The scrip had also outperformed the market in past one quarter, jumping 33.43% as against Sensex's 4.84% rise.

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

Shares of Ashok Leyland had rallied 21.89% in three trading sessions to settle at Rs 22.55 on Wednesday, 26 March 2014, from Rs 18.50 on 22 March 2014.

Ashok Leyland reported a net loss of Rs 167.21 crore in Q3 December 2013 compared with net profit of Rs 74.14 crore in Q3 December 2012. Net sales declined 19% to 1903.28 crore in Q3 December 2013 over Q3 December 2012.

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

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