Ashok Leyland gains after block deal

Ashok Leyland rose 2.53% to Rs 16.20 at 10:15 IST on BSE after a block deal of 2.6 crore shares was struck at Rs 15.90 per share on BSE at 9:26 IST.

Meanwhile, the BSE Sensex was down 17.96 points, or 0.09%, to 20,231.30.

On BSE, a huge 2.69 crore shares were traded in the counter compared with average volume of 14.28 lakh shares in the past one quarter.

The stock hit a high of Rs 16.40 and a low of Rs 15.75 so far during the day. The stock hit a 52-week low of Rs 11.82 on 29 August 2013. The stock hit a 52-week high of Rs 28.70 on 3 December 2012.

The stock had outperformed the market over the past one month till 9 October 2013, rising 21.82% compared with the Sensex's 5.08% rise. The scrip had, however, underperformed the market in past one quarter, falling 15.51% as against Sensex's 4.17% rise.

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

On 7 October, 2013, Ashok Leyland launched a multi-purpose vehicle with a tag name 'Stile' in the domestic market. It was developed by the Ashok Leyland-Nissan Motor Company joint venture. Stile, which will roll out from Nissan's manufacturing plant at Oragadam, near Chennai, will address various applications like 7-8 seater people transport in the urban and rural areas, hotel shuttles, taxi services, ambulances, panel vans, courier services, inter-city and intra-city travel, Ashok Leyland said in a statement.

Ashok Leyland reported a net loss of Rs 141.75 crore in Q1 June 2013, as against net profit of Rs 66.94 crore in Q1 June 2012. Net sales declined 21.9% to Rs 2313.21 crore in Q1 June 2013 over Q1 June 2012.

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

Powered by Capital Market - Live News