Ashok Leyland August sales up 2.5%, shares rally 4%

Ashok Leyland reported a 2.5 percent month-on-month growth (down 24 percent year-on-year) in its August sales data, supported by strong commercial vehicle sales. The shares jumped 4 percent Monday.

Commercial vehicle maker sold 7,139 units in August as against 6,967 units in previous month and 9,432 units in a year ago period.

Commercial vehicle sales (excluding Dost) of the Hinduja Group flagship company increased 4.77 percent M-o-M (a fall of 25 percent Y-o-Y) to 4,939 units in August.

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In case of small commercial vehicle, Ashok Leyland sold 2,200 units of Dost, down marginally (a 22 percent decline Y-o-Y) compared to 2,253 units in previous month.

At 13:28 hours IST, the stock was up 4.25 percent to Rs 12.51 amid high volumes on the Bombay Stock Exchange.