Shares of Ashok Leyland surged 5.37% to Rs 73.60 amid bargain hunting. The stock slumped 17.77% in four sessions to Rs 69.85 on Friday (28 February) from its recent closing high of Rs 84.95 recorded on 24 February 2020.
Total sales fell 3.16% from 11,850 units in January 2020.
The company’s domestic sales declined 39% to 10,612 units in February 2020 from 17,352 units in February 2019.
Ashok Leyland, flagship of the Hinduja group, is amongst the largest manufacturer of commercial vehicles in India and also amongst the biggest manufacturers of buses and trucks globally.
On a consolidated basis, the company’s net profit slumped 93.3% to Rs 26.79 crore on a 30.5% fall in net sales to Rs 5148.15 crore in Q3 December 2019 over Q3 December 2018.
