Ashok Leyland shares drop over 3% as October sales disappoint; details here

Ashok Leyland share price: Shares of Ashok Leyland fell up to 3.30 per cent to hit an intraday low of Rs 202.15 per share on Monday, November 04, 2024. 

 

The fall in Ashok Leyland share price came on the back of weak October sales numbers. Overall sales dropped 9 per cent year-on-year (Y-o-Y) to 15,310 units in October 2024, as against 16,864 units in October 2023.

 

Total commercial vehicle (CV) sales fell 8 per cent year-on-year (Y-o-Y) to 9,408 units in October 2024, from 10,185 units in October 2023.

 

Meanwhile, light commercial vehicles (LCV) dropped 12 per cent Y-o-Y to 5,902 units in October 2024, from 6,679 units in October 2023.

 

Domestically, total vehicle sales tanked 11 per cent annually to 14,067 units in October 2024, from 15,759 units in October 2023. 

 

M&HCV truck sales dropped 13 per cent Y-o-Y to 7,208 units, from 8,272 units in October last year. M&HCV bus sales, however, grew 8 per cent year-on-year to 1,229 units in October 2024, from 1,139 units in October 2023.

 

Cumulatively, total vehicle sales until October 2024 dropped 3 per cent annually to 1,04,827 units, as against 1,08,039 units during the same period last year.

 

Ashok Leyland, the flagship company of the Hinduja Group, stands as India's second-largest commercial vehicle manufacturer, the world's fourth-largest bus producer, and the 19th largest truck maker globally. 

 

Headquartered in Chennai, it operates nine manufacturing plants, including seven in India, a bus production facility in Ras Al Khaimah (UAE), and a plant in Leeds, United Kingdom. 

 

The company also has a joint venture with the Alteams Group to produce high-pressure die-cast aluminium components for the automotive and telecommunications sectors. 

 

With a diverse portfolio across the automotive industry, Ashok Leyland is valued at $4.5 billion and has built a 75-year legacy. 

 

The market capitalisation of Ashok Leyland is Rs 60,930.87 crore, according to BSE. The company falls under the BSE 100 category. 

 

The 52-week high of Ashok Leyland share is Rs 264.70 while its 52-week low is Rs 157.65 apiece. 

 

At 2:10 PM, Ashok Leyand shares were off lows and were trading 0.88 per cent lower at Rs 207.20 per share. In comparison, BSE Sensex was trading 1.51 per cent lower at 78,516.74 levels.