Ashok Leyland - August Sales Number by Mr. Jyoti Roy, DVP - Equity Strategist, Angel Broking Ltd

"Ashok Leyland August sales were down by 31% YoY to 6,325 units. As expected MHCV sales continued to struggle and were down by 52% YoY to 2,589 units. LCV sales performed much better and were down by 4% YoY to 3,736 units. While we expect LCV sales will improve further over the next couple of months MHCV sales will take longer time to recover. We expect MHCV sales to normalize only by Q4FY21. The MHCV space is the least preferred space in the auto sector and we continue to maintain our neutral stance on the MHCV space."

Shares of ASHOK LEYLAND LTD. was last trading in BSE at Rs.68.9 as compared to the previous close of Rs. 67.6. The total number of shares traded during the day was 4764943 in over 3568 trades.

The stock hit an intraday high of Rs. 69.75 and intraday low of 66.15. The net turnover during the day was Rs. 318930614.

Source : Equity Bulls

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