Ashok Leyland at new high

Ashok Leyland, which had closed yesterday at Rs.22.25, opened higher and went on to hit a new high today at Rs.133 with a robust jump up in volumes.

Apart from the vehicle scrappage policy, which will benefit Ashok Leyland and Tata Motors immensely, the market was also celebrating its sales number of January.

The company posted a 11% (YoY) jump in total sales for Jan’21.

Total domestic vehicles sales stood at 12,359 units in January against 10,850 units in the year-ago period, registering an increase of 14%.

Medium and heavy commercial vehicles (M&HCV) sales in the domestic market were down 2% at 6,839 units while Light commercial vehicle sales in the domestic last month stood at 5,520 units, up 42%.

However, bus sales dropped by 79% to 440 units.