Ashok Leyland hits 20-month low on growth concerns

The stock was down 4.5% at Rs 86.55, trading at its lowest level since May 25, 2017, on the BSE.

Ashok Leyland

Despite the poor performance, most brokerages have a positive view on Ashok Leyland

SI Reporter Mumbai
Shares of Ashok Leyland continued under pressure, hitting a 20-month low of Rs 86.55 apiece, down 4.5 per cent on the BSE, on concerns of a slowdown in vehicle sales.

The market price of the country's second largest commercial vehicle (CV) manufacturer was trading at its lowest level since May 25, 2017.

Thus far in the month of January 2019, Ashok Leyland, the flagship firm of Hinduja group, has fallen 16 per cent after recording weak December sales numbers. In comparison, the S&P BSE Sensex was up 1 per cent during the same period. The stock corrected 48 per cent from its 52-week high level of Rs 168 touched on May 8, 2018, on the BSE in intra-day

First Published: Jan 22 2019 | 11:31 AM IST

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