1. Ashok Leyland shares dip over 4% on posting 6 per cent decline in August sales

Ashok Leyland shares dip over 4% on posting 6 per cent decline in August sales

Ashok Leyland shares slipped over 4 per cent on Thursday after the commercial vehicle manufacturer registered 6 per cent fall in its total sales to 10,897 units in August 2016 as compared to 11,544 units sold in the same period of last year.

By: | New Delhi | Published: September 1, 2016 3:54 PM
Ashok Leyland shares bse sensex nse nifty Ashok Leyland shares slipped over 4 per cent on Thursday after the commercial vehicle manufacturer registered 6 per cent fall in its total sales to 10,897 units in August 2016 as compared to 11,544 units sold in the same period of last year.

Ashok Leyland shares slipped over 4 per cent on Thursday after the commercial vehicle manufacturer registered 6 per cent fall in its total sales to 10,897 units in August 2016 as compared to 11,544 units sold in the same period of last year. Medium and heavy commercial vehicle (M&HCV) shares slipped by 8 per cent year-on-year to 8201 units for the month ended August 2016 against 8903 units in the same month last year. However, light commercial vehicle (LCV) category posted 2 per cent growth in sales to 2,696 units in August 2016 as compared to 2,641 units in August 2015.

Shares of the company closed 4.45 per cent down at Rs 83.80. The scrip opened the day at Rs 87.70 and touched a high and low of Rs 87.75 and Rs 83.55, respectively. Benchmark BSE Sensex settled 28.69 points down at 28,423.48.

The BSE group ‘A’ stock of face value Rs 1 has touched a 52-week high of Rs 112.80 on April 13, 2016 and 52-week low of Rs 78.05 on February 11, 2016.

Promoters hold 50.38 per cent stake in Ashok Leyland, while public hold 49.62 per cent stake in the company.

For the quarter ended June 30, 2016, the company reported a standalone net profit of Rs 290.78 crore, up 101.24 per cent, against Rs 144.50 crore in the corresponding quarter a year ago.

Ashok Leyland is a Hinduja Group flagship company in India. It products include buses, trucks, engines, defense and special vehicles.

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