Ashok Leyland Limited (NSE: ASHOKLEY) saw its shares decline in early trading today, following the release of disappointing sales figures for August 2024. As of 10:02 AM, the stock was trading at ₹251.50, down ₹4.95 or 1.93% from its previous close.
Key points:
- Stock Performance:
- Current price: ₹251.50
- Decline: ₹4.95 (1.93%)
- Time: 10:02 AM
- August Sales Highlights:
- Total vehicle sales down 7% year-on-year
- Domestic sales decreased by 8%
- M&HCV truck sales fell 17%
- Positive Notes:
- Bus segment sales increased by 8%
- Year-to-date total sales slightly up at 72,284 units
The stock’s decline reflects investor concern over the company’s performance in the crucial M&HCV segment, which saw a significant drop in sales. However, the growth in the bus segment and stable LCV sales provide some optimism for the company’s diverse portfolio.
Analysts will be watching closely to see if Ashok Leyland can reverse this trend in the coming months, especially given the ongoing challenges in the commercial vehicle market.
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