Ashok Leyland Ltd hit an over two-year high of Rs 143.25 as they gained 6 per cent in intra-day trade on Tuesday after the company reported an 81 per cent year-on-year (YoY) jump in total sales 8,650 units in July 2021. It had sold 4,776 units in the same month last year. On a sequential basis, Ashok Leyland’s total sales surged 34.15 per cent during the month from 6,448 units sold in June 2021.

The stock of Hinduja Group company was trading higher for the fourth straight day, having rallied 18 per cent during the period. The market price of commercial vehicle (CV) manufacturers had hit a record high of Rs 168 on May 8, 2018.

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In July 2021, the company’s total domestic medium and heavy commercial vehicle (M&HCV) sales jumped 132 per cent YoY to 3,473 units, while entire domestic light commercial vehicle (LCV) sales were up 67 per cent YoY to 4,656 units over July 2020.

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Ashok Leyland Ltd-View Detailed Analysis