Ashok Leyland in top gear after strong monthly sales

Ashok Leyland was up 2.78% to Rs 122.15 at 12:49 IST on BSE after the company said its total sales grew by 79% to 19,253 units in December 2017 over December 2016.

The announcement was made during market hours today, 2 January 2018.

Meanwhile, the S&P BSE Sensex was down 9.14 points or 0.03% at 33,803.61.

On the BSE, 15.42 lakh shares were traded on the counter so far as against average daily volumes of 8.97 lakh shares in the past one quarter. The stock had hit a high of Rs 123 and a low of Rs 117.05 so far during the day. The stock had hit a record high of Rs 133 on 26 October 2017 and a 52-week low of Rs 79.20 on 2 January 2017.

The stock had underperformed the market over the past one month till 1 January 2018, declining 0.96% compared with the Sensex's 2.98% rise. The stock had also underperformed the market over the past one quarter, falling 3.41% as against the Sensex's 8.08% rise. The scrip had, however, outperformed the market over the past one year, advancing 48.38% as against the Sensex's 26.99% rise.

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

Ashok Leyland's sales of medium & heavy commercial vehicles (M&HCV) rose 82% to 15,950 units in December 2017 over December 2016. Sales of light commercial vehicles (LCV) grew by 69% to 3,303 units.

Ashok Leyland's net profit rose 13.5% to Rs 334.26 crore on 30.8% growth in net sales to Rs 6046.89 crore in Q2 September 2017 over Q2 September 2016.

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

Powered by Capital Market - Live News