Ashok Leyland gains after strong January sales

Ashok Leyland rose 0.76% to Rs 66.20 at 13:20 IST on BSE after the company said its total sales rose 36% to 10,639 units in January 2015 over January 2014.

The announcement was made during trading hours today, 2 February 2015.

Meanwhile, the BSE Sensex was down 196.34 points, or 0.67%, to 28,986.61.

On BSE, so far 10.79 lakh shares were traded in the counter, compared with an average volume of 23.98 lakh shares in the past one quarter.

The stock hit a high of Rs 67 and a low of Rs 65.50 so far during the day. The stock hit a record high of Rs 69.20 on 29 January 2015. The stock hit a 52-week low of Rs 14.90 on 17 February 2014.

The stock had outperformed the market over the past one month till 30 January 2015, rising 27.45% compared with 6.49% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 41.90% as against Sensex's 6.72% rise.

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

Sales of medium and heavy commercial vehicle (M&HCV) surged 45% to 8,005 units in January 2015 over January 2014. Sales of light commercial vehicles (LCV) rose 14% to 2,634 units in January 2015 over January 2014, Ashok Leyland said in a statement.

Ashok Leyland reported net profit of Rs 32.09 crore in Q3 December 2014 compared with net loss of Rs 167.20 crore in Q3 December 2013. Net sales rose 72.9% to Rs 3290.62 crore in Q3 December 104 over Q3 December 2013.

Ashok Leyland is the 2nd largest manufacturer of commercial vehicles in India, the 4th largest manufacturer of buses in the world and the 16th largest manufacturer of trucks globally.

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