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Ashok Leyland slips 12%, hits over 5-year low on weak outlook

The stock of the commercial vehicle company was trading at its lowest level since February 10, 2015, when it had touched Rs 56 per share in the intra-day trade.

Ashok Leyland undertakes cost cutting measures to save Rs 500 crore

Shares of Ashok Leyland hit an over 5-year low to trade at Rs 61 per share, slipping 12 per cent intra-day, on the BSE on Friday as analysts remained cautious on the company's medium-term outlook for the domestic medium and heavy commercial vehicle (M&HCV) industry. The stock was trading at its lowest level since February 10, 2015, when it had touched Rs 56 per share in the intra-day trade. The commercial vehicle company's net profit dropped by 45 per cent to Rs 230 crore in the June 2019 quarter (Q1FY20) from Rs 422 crore reported in the corresponding quarter ...