Ashok Leyland edges lower on profit booking

Ashok Leyland lost 4.11% to Rs 65.40 at 15:25 IST on BSE on profit booking after the company reported turnaround Q3 results.

The company announced Q3 results during market hours today, 29 January 2015.

Meanwhile, the S&P BSE Sensex was up 124.46 points or 0.42% at 29,683.64.

On BSE, so far 30.71 lakh shares were traded in the counter as against average daily volume of 23.28 lakh shares in the past one quarter.

The stock hit a high of Rs 69.20, a record high for the stock. The stock hit a low of Rs 65.30 so far during the day. The stock had hit a 52-week low of Rs 14.90 on 17 February 2014.

In a pre-result rally, the stock had gained 7.91% in three sessions, from a recent low of Rs 63.20 on 22 January 2015.

The stock had outperformed the market over the past one month till 28 January 2015, gaining 36.95% compared with Sensex's 8.51% rise. The scrip had also outperformed the market in past one quarter, gaining 49.73% as against Sensex's 9.96% rise.

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

Ashok Leyland reported net profit of Rs 32.09 crore in Q3 December 2014 compared with net loss of Rs 167.20 crore in Q3 December 2013. Total income rose 71.7% to Rs 3380.32 crore in Q3 December 104 over Q3 December 2013.

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