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Ashok Leyland has reduced the prices of its commercial vehicles by 1% with immediate affect, the automaker said in a statement, after a recent decrease in excise duty on chassis by the same amount.
The government cut excise duty on commercial vehicle chassis to 14% this week.
Ashok Leyland, India's second-largest truck and bus manufacturer, raised its prices by 5% after the excise duty was raised by that amount in the federal Budget in March.
Ashok Leyland stock price
On May 29, 2015, Ashok Leyland closed at Rs 71.45, up Rs 0.90, or 1.28 percent. The 52-week high of the share was Rs 77.00 and the 52-week low was Rs 29.05.
The company's trailing 12-month (TTM) EPS was at Rs 1.18 per share as per the quarter ended March 2015. The stock's price-to-earnings (P/E) ratio was 60.55. The latest book value of the company is Rs 12.75 per share. At current value, the price-to-book value of the company is 5.60.
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