Ashok Leyland shrugs off weak sales data

Ashok Leyland rose 1.51% to Rs 80.80 at 10:38 IST on BSE, with the stock shruging off weak monthly sales volume data.

Meanwhile, the S&P BSE Sensex was up 288.53 points or 1.04% at 28,154.49.

On BSE, so far 6.55 lakh shares were traded in the counter as against average daily volume of 15.18 lakh shares in the past one quarter. The stock was volatile. The stock rose as much as 2.26% at the day's high of Rs 81.40 so far during the day. The stock lost as much as 1.38% at the day's low of Rs 78.50 so far during the day. The stock had hit a record high of Rs 112.80 on 13 April 2016. The stock had hit a 52-week low of Rs 75.15 on 30 September 2016. The stock had underperformed the market over the past one month till 30 September 2016, sliding 9.95% compared with 1.68% fall in the Sensex. The scrip had also underperformed the market in past one quarter, declining 19.27% as against Sensex's 3.21% rise.

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

Ashok Leyland announced on Saturday, 1 October 2016 that its total sales declined 18% to 12,057 units in September 2016 over September 2015. Sales of medium & heavy commercial vehicles (M&HCV) declined 26% to 8,963 units in September 2016 over September 2015. Light commercial vehicles (LCV) sales rose 17% to 3,094 units in September 2016 over September 2015.

Ashok Leyland's net profit jumped 101.2% to Rs 290.78 crore on 10.6% growth in net sales to Rs 4175.79 crore in Q1 June 2016 over Q1 June 2015.

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

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