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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 August 22, 2014, Ashok Leyland closed at Rs 38.75, up Rs 2.20, or 6.02 percent. The 52-week high of the share was Rs 39.30 and the 52-week low was Rs 11.87.
The company's trailing 12-month (TTM) EPS was at Rs 0.43 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 90.12. The latest book value of the company is Rs 15.69 per share. At current value, the price-to-book value of the company is 2.47.
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