Ashok Leyland gains after reporting strong Q2 results

Ashok Leyland gained 1.95% to Rs 91.40 at 14:20 IST on BSE after net profit jumped 70.96% to Rs 294.41 crore on 7.07% drop in total income to Rs 4943.23 crore in Q2 September 2016 over Q2 September 2015.

The result was announced during market hours today, 8 November 2016.

Meanwhile, the S&P BSE Sensex was down 13.48 points or 0.05% at 27,445.51.

High volumes were witnessed on the counter. On BSE, so far 23.48 lakh shares were traded in the counter as against average daily volume of 11.63 lakh shares in the past one quarter. The stock hit high of Rs 92.10 and low of Rs 88.30 so far during the day. The stock had hit a record high of Rs 112.80 on 13 April 2016. The stock had hit a 52-week low of Rs 75.15 on 30 September 2016. The stock outperformed the market over the past one month till 7 November 2016, gaining 10.34% compared with Sensex's 2.15% decline. The scrip also outperformed the market in past one quarter, gaining 1.82% as against Sensex's 2.21% fall.

The large-cap company has equity capital of Rs 284.59 crore. Face value per share is Rs 1.

Ashok Leyland is one of the leading manufacturers of medium and heavy commercial vehicles in India.

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