Ashok Leyland gains despite reporting 18% fall in September sales

Ashok Leyland is currently trading at Rs. 81.35, up by 1.75 points or 2.20% from its previous closing of Rs. 79.60 on the BSE.

The scrip opened at Rs. 79.00 and has touched a high and low of Rs. 81.40 and Rs. 78.50 respectively. So far 867182 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 112.80 on 13-Apr-2016 and a 52 week low of Rs. 75.15 on 30-Sep-2016.

Last one week high and low of the scrip stood at Rs. 82.75 and Rs. 75.15 respectively. The current market cap of the company is Rs. 23065.83 crore.

The promoters holding in the company stood at 50.38%, while Institutions and Non-Institutions held 20.19% and 29.43% respectively.

Ashok Leyland, the commercial vehicle manufacturer, has reported 18% decline in its total sales to 12,057 units in September 2016 as compared to 14,783 units sold in the same period of last year. The company has experienced 26% decline in its sales of medium and heavy commercial vehicle (M&HCV) to 8,963 units in September 2016 as compared to 12,146 units in September 2015. However, Light commercial vehicle (LCV) segment registered 17% growth in sales to 3,094 units in September 2016 as compared to 2,637 units in September 2015.

Ashok Leyland, the Hinduja Group flagship company in India, is engaged in the manufacturing of commercial vehicles and related components. The company’s products include buses, trucks, engines, defense and special vehicles