Ashok Leyland in reverse gear after poor monthly sales

Ashok Leyland lost 4.23% to Rs 90.50 at 12:36 IST on BSE after the company's total sales declined 8% to 9,071 units in May 2017 over May 2016.

The announcement was made during trading hours today, 1 June 2017.

Meanwhile, the S&P BSE Sensex was down 70.34 points, or 0.23%, to 31,075.46

On BSE, 10.65 lakh shares were traded on the counter so far as against the average daily volumes of 15.83 lakh shares in the past one quarter. The stock hit a high of Rs 94.80 and a low of Rs 90.10 so far during the day. The stock hit a 52-week high of Rs 111.65 on 1 June 2016. The stock hit a 52-week low of Rs 73.60 on 22 November 2016.

The stock had outperformed the market over the past one month till 31 May 2017, rising 13.04% compared with 4.1% gains in the Sensex. The scrip, however, underperformed the market in past one quarter, gaining 8.12% as against Sensex's 8.36% gains. The scrip had also underperformed the market in past one year, sliding 9.66% as against Sensex's 16.79% gains.

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

Ashok Leyland's sales of light commercial vehicles (LCV) rose 22% to 2,932 units in May 2017 over May 2016. Sales of medium & heavy commercial vehicles (M&HCV) dropped 18% to 6,139 units in May 2017 over May 2016.

Ashok Leyland reported net profit of Rs 476.17 crore in Q4 March 2017 as compared with net loss of Rs 140.81 crore in Q4 March 2016. Net sales rose 10.79% to Rs 6617.89 crore in Q4 March 2017 over Q4 March 2016.

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

Powered by Capital Market - Live News