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Ashok Leyland hit fresh lifetime high post March sales

Ashok Leyland has extended gains to hit fresh record high of Rs 111 on the National Stock Exchange (NSE) after the commercial vehicles maker today reported a 31% increase in total sales at 16,702 units in March. The company had sold 12,754 units in the same month last year.

The sales of medium and heavy commercial vehicles (M&HCV) jumped 32% to 13,240 units in March as against 10,027 in the same month a year ago, Ashok Leyland said in a statement.

Light commercial vehicles (LCV) sales went up 27% to 3,462 units as against 2,727 in March 2015.

For the financial year 2015-16 (April 2015 to March 2016), Ashok Leyland reported 34% increase in total sales at 140,457 units over the previous fiscal.

The company had reported 17% year-on-year growth in total sales at 104,902 units during the previous financial year 2014-15.

Thus far in the calendar year 2016, the stock has outperforming the market by appreciating 25% as compared to 3.5% decline in the S&P BSE Sensex.

Till 11:42 AM, a combined 6.65 million shares changed hands on the counter on the NSE and BSE.