Ashok Leyland slips on weak auto sales

Ashok Leyland fell 2.89% to Rs 66.80 after total auto sales fell 55% to 8,780 units in September 2019 over September 2018.

Total medium and heavy commercial vehicles (M&HCV) sales declined 67% to 4,744 units in September 2019 over September 2018.

Total domestic sales fell 57% to 7,851 units while the domestic M&HCV sales declined 69% to 4,035 units in September 2019 over September 2018.

Total vehicle sales fell 5.80% to 8,780 units in September 2019 as against 9,231 units in August 2019.

Meanwhile, the S&P BSE Sensex was down 10 points or 0.03% to 38,657.23.

On the BSE, 19.67 lakh shares were traded in the counter so far compared with average daily volumes of 38.25 lakh shares in the past two weeks. The stock hit a high of Rs 69.75 and a low of Rs 66.15 so far during the day.

The stock hit a 52-week high of Rs 123 on 17 Oct 2018. The stock hit a 52-week low of Rs 56.95 on 23 Aug 2019.

On a consolidated basis, the auto company's net profit declined by 40.6% to Rs 248.84 crore on a 7.5% reduction in net sales to Rs 6514.73 crore in Q1 June 2019 over Q1 June 2018.

Ashok Leyland, flagship of the Hinduja group, is the 2nd largest manufacturer of commercial vehicles in India, the 4th largest manufacturer of buses in the world, and the 10th largest manufacturers of trucks.

Powered by Capital Market - Live News