Ashok Leyland gains momentum on strong sales in Feb

Ashok Leyland rose 1% to Rs 142.60 at 11:02 IST on BSE after total sales rose 29% to 18,181 units in February 2018 over February 2017.

The announcement was made during market hours today, 1 March 2018.

Meanwhile, the S&P BSE Sensex was down 42.62 points, or 0.12% to 34,141.42.

On the BSE, 4.25 lakh shares were traded in the counter so far, compared with average daily volumes of 11.74 lakh shares in the past one quarter. The stock had hit a high of Rs 143.80 in intraday trade, which is also a record high for the stock. The stock had hit a low of Rs 142 so far during the day. The stock had hit a 52-week low of Rs 81 on 19 April 2017.

The stock has gained 7.79% in five sessions to its ruling price, from a close of Rs 132.30 on 22 February 2018.

The stock had outperformed the market over the past one month till 28 February 2018, gaining 15.44% compared with the Sensex's 5.18% fall. The stock had also outperformed the market over the past one quarter, gaining 16.3% as against the Sensex's 1.68% rise. The scrip had also outperformed the market over the past one year, surging 56.05% as against the Sensex's 18.93% rise.

The large-cap company has equity capital of Rs 292.71 crore. Face value per share is Re 1.

Ashok Leyland's sales of light commercial vehicles jumped 63% to 4,455 units in February 2018 over February 2017. Sales of medium & heavy commercial vehicles rose 21% to 13,726 units in February 2018 over February 2017.

Ashok Leyland's net profit rose 3% to Rs 1799 crore on 13.9% rise in net sales to Rs 18940 crore in Q3 December 2017 over Q3 December 2016.

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

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