Ashok Leyland on good roads

Ashok Leyland is on pretty strong roads today morning as its monthly sales numbers for June have been very encouraging. The stock price rose 6% to Rs.99.40, its high point of the day so far and so close to its 52-week high of Rs.100.55.

The stock price jumped up, reacting to its 11% (YoY) rise in total sales at 12,330 unit for June’17.

Its sales of light commercial vehicles (LCV) was up 29% at 3,218 unit while that of Medium & heavy commercial vehicles (M&HCV) was up 6% at 9,202 units.

The second largest truck maker of India, it had ended Q4FY17 with a turnaround – net profit of Rs.476 crore v/s net loss of Rs.141 crore (YoY) on a 11% rise in net sales at Rs.6618 crore.