Ashok Leyland jumps after good sales in August

Ashok Leyland rose 4.62% to Rs 112 at 11:36 IST on BSE after the company's total sales rose 25% to 13,634 units in August 2017 over August 2016.

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

Meanwhile, the S&P BSE Sensex was up 131.81 points, or 0.42% to 31,862.30.

On the BSE, 12.22 lakh shares were traded in the counter so far, compared with average daily volumes of 14.96 lakh shares in the past one quarter. The stock had hit a high of Rs 113 and a low of Rs 107.40 so far during the day. The stock hit a record high of Rs 114.25 on 8 August 2017. The stock hit a 52-week low of Rs 73.60 on 22 November 2016.

The stock had underperformed the market over the past one month till 31 August 2017, falling 1.88% compared with 2.30% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 15.29% as against Sensex's 1.46% rise. The scrip had also outperformed the market in past one year, rising 27.74% as against Sensex's 11.63% rise.

The large-cap company has equity capital of Rs 292.65 crore. Face value per share is Re 1.

Ashok Leyland's sales of light commercial vehicles (LCV) rose 14% to 3,067 units in August 2017 over August 2016. Sales of medium & heavy commercial vehicles (M&HCV) rose 29% to 10,567 units in August 2017 over August 2016.

Ashok Leyland's net profit fell 61.7% to Rs 111.23 crore on 0.5% decline in net sales to Rs 4237.78 crore in Q1 June 2017 over Q1 June 2016.

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

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