At the NSE, the stock zoomed by 15.22 per cent to close at Rs 33.30.
Shares of the company surged by 19.2 per cent to 52-week high of Rs 34.45 in day trade on BSE. The stock settled at Rs 32.85, up by 13.67 per cent over the previous close.
The market capitalisation rose by Rs 1,051.32 crore to Rs 8,740.32 crore.
Ashok Leyland yesterday reported over two-fold increase in profit to Rs 363.39 crore for the quarter ended March 31, 2014 compared to profit of Rs 150.03 crore for the January-March quarter of FY'13.
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