Ashok Leyland dips 4% on closing Pantnagar plant due to weak demand

Lack of demand due to illiquid market and weak consumption appetite led to steep fall in auto-sales

Shares of Ashok Leyland dipped up to 4 per cent to trade at Rs 82.10 per share in the early morning deals on Tuesday after the company announced closure of its Pantnagar plant due to weak demand and outlook for the industry.

In a regulatory filing, the heavy vehicle manufacturer said that the plant will remain closed between July 16 and July 24. READ IT HERE

At 9:50 am, the stock was trading 1.58 per cent lower at Rs 84.15 apiece as against a 0.29 per cent rise in the benchmark S&P BSE Sensex. The Nifty Auto