Ashok Leyland shares rose as much as 5 percent in Wednesday's trade after the company reported a 25 percent year-on-year increase in total vehicle sales for June.
The stock climbed to an intraday high of Rs 165.75 per share on the NSE, up 5 percent. However, profit booking at higher levels trimmed gains, with the shares ending at Rs 162.05, up 2.76 percent.
The company reported total vehicle sales of 19,194 units in June, up 25 percent from a year ago.
Sales of light commercial vehicles (LCVs) rose 28 percent year-on-year to 7,038 units, while medium and heavy commercial vehicle (M&HCV) sales increased 24 percent to 12,156 units. Sales of medium and heavy commercial trucks jumped 44 percent to 9,616 units during the month.
In the domestic market, total vehicle sales increased 26 percent year-on-year to 17,912 units in June. Sales of medium and heavy commercial trucks in India rose 44 percent to 9,458 units, while medium and heavy commercial bus sales declined 28 percent to 1,673 units. Domestic LCV sales increased 28 percent to 6,781 units.
During the April-June quarter, Ashok Leyland's total vehicle sales, including exports, rose 10 percent year-on-year to 48,763 units. This included 29,424 medium and heavy commercial vehicles, up 5 percent, and 19,339 light commercial vehicles, up 20 percent.
In India, the company sold 46,302 commercial vehicles during the April-June period, marking a 12 percent increase over the corresponding period last year.
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