Ashok Leyland gains as Q1 net loss narrows

Ashok Leyland rose 1.80% to Rs 33.90 at 9:16 IST on BSE after the company reported a net loss of Rs 47.95 crore in Q1 June 2014, lower than net loss of Rs 141.75 crore in Q1 June 2013.

The company announced the result after market hours on Friday, 25 July 2014.

Meanwhile, the BSE Sensex was up 18.99 points, or 0.07%, to 26,145.74.

On BSE, so far 17,000 shares were traded in the counter, compared with an average volume of 23.71 lakh shares in the past one quarter.

The stock hit a high of Rs 34.05 and a low of Rs 33.65 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 underperformed the market over the past one month till 25 July 2014, falling 12.60% compared with 3.21% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 42.92% as against Sensex's 15.16% rise.

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

Ashok Leyland's total income rose 5.25% to Rs 2500.92 crore in Q1 June 2014 over Q1 June 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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