Ashok Leyland zooms 3.7% on strong April sales

Shares of Ashok Leyland surged 3.71 per cent on BSE on Thursday (May 2, 2024) after the commercial vehicle major reported above-Zee Business research estimate sales figures for April month.

As of May 2, 2024, 12:47 pm, the stock price rose to Rs 199.70, marking a gain on the back of positive sales data.

On Thursday, the Chennai-headquartered company unveiled its April sales numbers, which showed a 10 per cent increase in total wholesale units to 14,271 Year-on-Year (YoY).

According to the Hinduja Group company, it reported a nine per cent rise in domestic sales to 13,446 units in April 2024 compared to 12,366 units in April 2023.

The growth was driven by a strong performance in the medium and heavy commercial vehicle (M&HCV) segment, with sales surging 16 per cent to 8,611 units against 7,422 units in the year-ago period.

However, light commercial vehicle (LCV) sales witnessed a decline of 2 per cent, slipping to 4,835 units from 4,944 units sold in April 2023.

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