Ashok Leyland August sales rise 38% y/y; shares fall 4%
Ashok Leyland reported August total sales up 38% year-on-year to 21,038 units from 15,239 a year ago, driven by strong medium and heavy commercial vehicle demand. The stock fell 4%.
Ashok Leyland’s August sales came in ahead of estimates, with total volumes rising 38% year-on-year to 21,038 units from 15,239 units a year ago, as strong medium and heavy commercial vehicle (M&HCV) demand drove growth.The company’s total sales of 21,038 units were ahead of the Nomura estimate of…