Ashok Leyland reports 10% increase in total wholesales for April month, stock hits 52-week high

Commercial vehicle maker Ashok Leyland on Thursday reported a 10% increase in total wholesales at 14,271 units in April as compared to 12,974 units in the same month last year. Domestic sales increased 9% to 13,446 units last month as compared to 12,366 units in April 2023, Ashok Leyland said in a statement.

Sales of medium and heavy commercial vehicles in the domestic market were 16% higher at 8,611 units as against 7,422 units in the year-ago month, it added. Light commercial vehicle sales slipped 2% to 4,835 units from 4,944 units in the same month last year.

Ashok Leyland shares rose 4% to ₹200 to reach an all-time high on May 2 after the company's combined sales of M&HCV and LCV units (including exports) amounted to 14,271 units, marking a 10% increase from the same period last year. M&HCV and LCV are medium, heavy and light commercial vehicles. At about 2:45 pm, shares of the company were trading at ₹199, up 3.6% from the previous close on the NSE. Ashok Leyland shares have rallied almost 14% in the past week.

Shares of Ashok Leyland closed 4.54% higher at ₹201.40 on NSE before hitting a 52-week high of ₹201.95 per share.

About Ashok Leyland

Ashok Leyland, a company within the Hinduja Group, holds a significant position in the Indian M&HCV segment. Established for a considerable period, the company possesses a strong brand image and maintains a well-developed network for distribution and service throughout India and internationally (presence in 50 countries). Additionally, Ashok Leyland actively participates in driver training through its institutes across India, having trained over 8 lakh drivers since its inception.

With inputs from PTI