Ashok Leyland tumbles despite reporting 71% rise in Q2 net profit

Ashok Leyland is currently trading at Rs. 85.95, down by 5.80 points or 6.32% from its previous closing of Rs. 91.75 on the BSE.

The scrip opened at Rs. 83.70 and has touched a high and low of Rs. 88.55 and Rs. 82.60 respectively. So far 1229931 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. 92.40 and Rs. 82.60 respectively. The current market cap of the company is Rs. 25086.40 crore.

The promoters holding in the company stood at 50.38%, while institutions and non-institutions held 18.70% and 30.92% respectively.

Ashok Leyland has reported 70.96% rise in its net profit at Rs 294.41 crore for the quarter under review as compared to Rs 172.21 crore for the same quarter in the previous year. Total income of the company decreased by 7.08% at Rs 4943.24 crore for the quarter under review as compared Rs 5319.81 crore for the corresponding quarter previous year.

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.