Ashok Leyland slips 4% on weak October sales

Shares of automotive manufacturer fell nearly 4% to Rs 147.25 in Tuesday’s intraday trade as the company reported a 15% lower decline in total vehicle sales at 14,863 units as compared to 17,549 units sold in September 2022.

Ashok Leyland sales figure was also lower than the ET NOW poll of 16,180 units.

https://twitter.com/ETNOWlive/status/1587335342415220738?s=20&t=_Lp2zeWMNBU_e49DVI-HQQ

Ashok Leyland recorded a 34% rise in total vehicle sales to 14,863 units in October 2022 from 11,079 units sold in October 2021.

The company's total medium and heavy commercial vehicle (M&HCV) sales increased by 49% year-on-year (YoY) to 9,054 units, while total light commercial vehicle (LCV) sales were higher by 16% YoY to 5,809 units during the period under review.

The company's total domestic sales in October month stood at 13,860 units, up by 38% from 10,043 units sold in the same month last year.

At 1.26 pm, the scrip was trading 3% lower at Rs 148 over its previous day’s closing price of Rs 153.25 apiece. The stock has risen nearly 18% in the last six months while it has surged about 16% year-to-date.