Ashok Leyland shares rise after July sales surge 11% YoY

On August 2, Ashok Leyland shares were up around 1% at Rs 18,575 after the company reported higher sales figures for the month of July 2023.

In July 2023, the company sold 15,068 units, up 10.6% from 13,625 units sold in July 2022.

Total medium and heavy commercial vehicle (M&HCV) sales grew by 17% to 9,571 units in July 2023, while light commercial vehicle (LCV) sales were at 5,497 units.

On July 21, the company announced a 747% YoY increase in its standalone net profit for the June quarter to Rs 576.42 crore, up from Rs 68.05 crore in the same period the previous year.

The company's revenue from operations increased 13.4% to Rs 8,189.29 crore, up from Rs 7,222.85 crore the previous year, while other income increased to Rs 51 crore, up from Rs 26 crore.

Prabhudas Lilladher maintained a buy rating with a target price of Rs 225 in its July 25 report.

On July 24, 2023, and 28 March, 2023, the share reached a 52-week high of Rs 186.45 and a 52-week low of Rs 133.10, respectively.

Source: Media Reports