Ashok Leyland shares gain as July sales jump 11% YoY

The share touched a 52-week high of Rs 186.45 and a 52-week low of Rs 133.10 on 24 July, 2023 and 28 March, 2023, respectively.

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Ashok Leyland shares were up nearly a percent at Rs 185,75 on August 2 after company reported better sales number for July 2023.

The company sold 15,068 units during the month, rising 10.6 percent against 13,625 units sold in July 2022.

Total sales of medium and heavy commercial vehicle (M&HCV) increased by 17 percent to 9,571 units, and that of light commercial vehicle (LCV) was up marginally  at 5,497 units in July 2023.

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On July 21, the company reported a 747 percent year-on-year (YoY) jump in its standalone net profit for the quarter ended June to Rs 576.42 crore against Rs 68.05 crore in the same quarter last fiscal.

The company’s revenue from operations grew 13.4 percent to Rs 8,189.29 crore, up from Rs 7,222.85 crore and other income went up to Rs 51 crore, from Rs 26 crore in the year-ago period.

Prabhudas Lilladher in its report dated July 25, has maintained buy rating with a target price of Rs 225.

The share touched a 52-week high of Rs 186.45 and a 52-week low of Rs 133.10 on 24 July, 2023 and 28 March, 2023, respectively.

Currently, the stock is trading 0.38 percent below its 52-week high and 39.56 percent above its 52-week low.

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