Ashok Leyland shares drop nearly 7% post sales data

Shares of Ashok Leyland on Friday dropped nearly 7 per cent after the company reported 28 per cent decline in total sales in July.

The scrip plunged 6.60 per cent to close at Rs 64.40 on the BSE. During the day, it dropped 11.74 per cent to Rs 60.85 -- its 52-week low.

On the NSE, shares of the company declined 6.24 per cent to close at Rs 64.55.

In terms of volume, 82.92 lakh shares were traded on the BSE and over 14 crore units on the NSE during the day.

Ashok Leyland on Thursday reported 28 per cent decline in total sales at 10,927 vehicles in July as against 15,199 units in the same month last year.

Total domestic sales were at 10,101 units last month as compared to 14,205 units in July 2018, down 29 per cent, the company said in a statement.

Medium and heavy commercial vehicles (M&HCV) sales in domestic market were down 41 per cent at 6,018 units last month as compared with 10,152 units in the year-ago period, it added.