Ashok Leyland Dips 2% After Reporting 30% Decline In Sales

The stock of Hinduja Group flagship Ashok Leyland Ltd on Tuesday declined more than 2% post lunch hours owing to 30% decline in total sales at 7,083 units in April 2017 as against 10,182 units in the same month last year.

The sales of heavy and medium commercial vehicles declined by 43% to 4,525 units last month as against 7,873 units in April last year and the sale of the light commercial vehicle increased by 11% to 2,558 units compared to 2,309 in April last year, as per BSE filing.

The stock is trading down by 2.22% at Rs 83.55 at 14:04 PM IST on BSE. The stock hit a high of Rs 86 and a low of Rs 83 so far during the day. Meanwhile, the BSE Sensex is down by 3 points at 29,921 and the NSE Nifty is also up by 2 points at 9306.

Ashok Leyland Limited is engaged in commercial vehicles and related components. Through its subsidiaries, it is engaged in manufacturing and trading in medium and heavy commercial vehicle, light commercial vehicles, passenger vehicles, automotive aggregates, vehicle financing and engineering design services.

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