Ashok Leyland hits record high

Ashok Leyland rose 1.31% to Rs 108.05 at 9:28 IST on BSE after the company said it has won a defence contract worth Rs 800 crore from Indian armed forces.

The announcement was made after market hours yesterday, 29 March 2016.

Meanwhile, the S&P BSE Sensex was up 194.29 points or 0.78% at 25,094.75.

On BSE, so far 2.08 lakh shares were traded in the counter as against average daily volume of 16.25 lakh shares in the past two weeks. The stock hit a high of Rs 108.60 so far during the day, which is a record high for the counter. The stock hit a low of Rs 107.90 so far during the day. The stock had hit a 52-week low of Rs 63.85 on 27 April 2015.

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

Ashok Leyland said it has won a defence contract worth Rs 800 crore from Indian armed forces for supply of advanced-technology products - 450 units of Field Artillery Tractor (FAT) 6x6 and other similar Super Stallion vehicles; and 825 units of Ambulance 4x4.

Net profit of Ashok Leyland rose 519% to Rs 198.63 crore on 22.5% growth in net sales to Rs 4029.46 crore in Q3 December 2015 over Q3 December 2014.

Ashok Leyland is the second largest manufacturer of commercial vehicles in terms of sales in India.

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