Ashok Leyland gains after good January sales

Ashok Leyland rose 1.68% to Rs 90.85 at 12:08 IST on BSE after the company reported 30% growth in total sales to 13,886 units in January 2016 over January 2015.

The announcement was made during trading hours today, 1 February 2016.

Meanwhile, the BSE Sensex was up 43.60 points, or 0.18%, to 24,914.29.

On BSE, so far 4.75 lakh shares were traded in the counter, compared with an average volume of 11.52 lakh shares in the past one quarter. The stock hit a high of Rs 91.05 and a low of Rs 89.20 so far during the day. The stock hit a record high of Rs 99.65 on 30 November 2015. The stock hit a 52-week low of Rs 56.10 on 10 February 2015. The stock had outperformed the market over the past one month till 29 January 2016, falling 0.33% compared with 4.64% decline in the Sensex. The scrip had also outperformed the market in past one quarter, falling 4.18% as against Sensex's 7.33% fall.

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

The company reported 40% increase in sales of medium and heavy commercial vehicles (M&HCV) to 11,208 units in January 2016 over January 2015. Sales of light commercial vehicles (LCV) rose 2% to 2,678 units in January 2016 over January 2015.

Ashok Leyland will announce Q3 results on 11 February 2016. The company's net profit rose 137.6% to Rs 286.81 crore on 54.9% growth in net sales to Rs 4878.81 crore in Q2 September 2015 over Q2 September 2014.

Ashok Leyland is the second largest manufacturer of commercial vehicles in terms of sales in India.

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