Ashok Leyland treads good roads

Ashok Leyland is doing very well in an otherwise tumultuous day of trading. Even before the Budget announcement, the stock price was up and post the Budget too, it remained in the green.

The reason for pre-Budget was its robust sales numbers for January 2019. The company reported a 12% (YoY) growth in its domestic sales at 18,533 units. Its total sales, which includes domestic and export, jumped up 9% at 19,741 units. In April-January period of FY'19, company's total combined sales stood at 157,586 units, up 17% vs/ 134,239 units in previous 9MFY18.

And post Budget, the stock is happy as there are many sops given out to the farmers and rural India.