Ashok Leyland gains after good sales in June

Ashok Leyland rose 2.72% to Rs 37.75 at 9:19 IST on BSE after the company reported 7% increase in total sales to 7,452 units in June 2014 over June 2013.

The company made the announcement after trading hours on Tuesday, 1 July 2014.

Meanwhile, the BSE Sensex was up 167.29 points, or 0.66%, to 25,683.64.

On BSE, so far 3.65 lakh shares were traded in the counter, compared with an average volume of 26.27 lakh shares in the past one quarter.

The stock hit a high of Rs 38.10 and a low of Rs 37.55 so far during the day. The stock hit a 52-week high of Rs 39 on 26 June 2014. The stock hit a 52-week low of Rs 11.82 on 29 August 2013.

The stock had outperformed the market over the past one month till 1 July 2014, rising 13.78% compared with 5.36% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 62.25% as against Sensex's 13.68% rise.

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

Ashok Leyland's total sales of medium and heavy commercial vehicle (M&HCV) rose 17% to 5,542 units in June 2014 over June 2013. However, total sales of light commercial vehicles (LCV) slipped 15% to 1,910 units in June 2014 over June 2013.

Ashok Leyland's net profit surged 142.2% to Rs 363.39 crore on 17.2% decline in net sales to Rs 3020.96 crore in Q4 March 2014 over Q4 March 2013.

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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