Ashok Leyland skids 4% as sales hit speed-breaker in December

Shares of Ashok Leyland Limited traded 4 percent lower to Rs 179 at mid-day on January 2 after the company reported a 10 percent decline in its total sales in December.

During the month, the bus and truck manufacturer sold 15,323 units as against 17,112 units in December 2022.

At 12:17 pm, the counter was trading at Rs 181, down 2.7 percent from the previous close on the NSE. The stock fell as much as 3.8 percent during trade today. The stock is up 22 percent in one year.

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The sales of Medium and Heavy Commercial Vehicles (MHCV) declined 12 percent to 10,800 units from 12,262 units during the same month last year.
In the segment, the company sold 8,485 trucks in December 2023, a steep 16 percent less than the 10,143 trucks sold in December 2022.

Its light commercial vehicle segment also witnessed a drop, falling 6 percent during the month to 5,524 units from 5,876 units in the corresponding month.

In December, the Chennai-headquartered company sold 2,315 busses, up 9 percent from 2,119 units in 2022.

Last month, the automobile major increased its stake in Optare Plc UK to about Rs 662 crore. The company now has 92.20 percent of the company from the previous 91.63 percent.

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