Ashok Leyland slips after muted sales growth in November

Ashok Leyland fell 2.45% to Rs 77.60 at 14:36 IST on BSE after the company said its total sales grew 7% to 9,574 units in November 2016 over November 2015.

The announcement was made during trading hours today, 1 December 2016.

Meanwhile, the BSE Sensex was down 51.52 points, or 0.19%, to 26,601.29.

On BSE, so far 20.80 lakh shares were traded in the counter, compared with average daily volume of 12.70 lakh shares in the past one quarter. The stock hit a high of Rs 80 and a low of Rs 77.35 so far during the day. The stock hit a 52-week high of Rs 112.80 on 13 April 2016. The stock hit a 52-week low of Rs 73.60 on 22 November 2016. The stock had underperformed the market over the past 30 days till 30 November 2016, falling 11.71% compared with the 4.39% decline in the Sensex. The scrip had, however, outperformed the market in past one quarter, falling 5.07% as against Sensex's 6.23% decline.

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) fell 1% to 2,646 units in November 2016 over November 2015. Sales of medium & heavy commercial vehicles (M&HCV) rose 10% to 6,928 units in November 2016 over November 2015.

Ashok Leyland's net profit jumped 71% to Rs 294.41 crore on 7.7% drop in net sales to Rs 4503.17 crore in Q2 September 2016 over Q2 September 2015.

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

Powered by Capital Market - Live News