Ashok Leyland shares declined 3.30 percent to an intraday low of Rs 202.15 a share on Monday, November 4, 2024. Ashok Leyland's share price fell in response to dismal October sales figures. Overall sales fell 9% year on year (Y-o-Y) to 15,310 units in October 2024, compared with 16,864 units in October 2023.
Total commercial vehicle (CV) sales declined 8% year on year (Y-o-Y) to 9,408 units in October 2024, compared to 10,185 units in October 2023. Meanwhile, light commercial vehicles (LCV) fell 12 percent year on year to 5,902 units in October 2024, from 6,679 in October 2023.
Domestically, total car sales fell 11% annually to 14,067 units in October 2024, from 15,759 units in October 2023.
M&HCV truck sales fell 13% year on year to 7,208 units, from 8,272 in October last year. M&HCV bus sales, however, increased by 8% year on year to 1,229 units in October 2024, up from 1,139 in October 2023.
Total car sales through October 2024 fell 3% annually, to 1,04,827 units, compared to 1,08,039 vehicles during the same period last year.
Ashok Leyland, the Hinduja Group's main company, is India's second-biggest commercial vehicle manufacturer, the world's fourth-largest bus manufacturer, and the 19th largest truck maker internationally.
It is headquartered in Chennai and maintains nine manufacturing factories, seven of which are in India, a bus production facility in Ras Al Khaimah (UAE), and one in Leeds, UK.
The company also has a joint venture with the Alteams Group to manufacture high-pressure die-cast aluminum components for the automotive and telecommunications industries.
Ashok Leyland, valued at $4.5 billion, has a 75-year history and a varied portfolio in the automotive industry. The company's market capitalisation is Rs 60,930.87 crore, according to BSE.
The 52-week high for Ashok Leyland shares is Rs 264.70, while the 52-week low is Rs 157.65. At 2:10 PM, Ashok Leyand shares were off its lows, trading 0.88 percent lower at Rs 207.20 per share. In comparison, the BSE Sensex was trading 1.51% lower at 78,516.74 points.
