Ashok Leyland extends Wednesday's slide

Ashok Leyland lost 1.57% to Rs 21.95 at 9:28 IST on BSE, with the stock extending Wednesday's 0.66% slide triggered by the company reporting drop in its total sales in March 2013 over March 2012.

Meanwhile, the S&P BSE Sensex was down 168.71 points or 0.9% at 18,632.93.

On BSE, 32,000 shares were traded in the counter as against average daily volume of 14.64 lakh shares in the past one quarter.

The stock hit a high of Rs 22.20 and a low of Rs 21.90 so far during the day. The stock had hit a 52-week low of Rs 20.25 on 30 August 2012. The stock had hit a 52-week high of Rs 32.90 on 2 May 2012.

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

Shares of Ashok Leyland have declined 2.22% in two trading sessions from Rs 22.45 on 2 April 2013, after the company after market hours on Tuesday, 2 April 2013 said its total sales declined 2% at 14,020 units in March 2013 over March 2012. The stock had declined 0.66% to settle at Rs 22.30 on Wednesday, 3 April 2013.

Ashok Leyland's commercial vehicle sales declined 20% to 9,695 units in March 2013 over March 2012. However, sales of small commercial vehicle 'DOST' spurted 96% to 4325 units in March 2013 from 2,211 units sold in March 2012.

The company's total sales grew by 12% to 1.14 lakh units in the year ended 31 March 2013 (FY 2013) over the year ended 31 March 2012 (FY 2012). Sales of commercial vehicle fell 16% to 79,695 units in FY 2013 over FY 2012.

Ashok Leyland's net profit rose 10.8% to Rs 74.14 crore on 18.6% fall in net sales to Rs 2322.50 crore in Q3 December 2012 over Q3 December 2011.

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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