Small BusinessAshok Leyland gains on jump in Q3 net
The stock extended gains to touch a high of Rs 55 - up 10% from the day"s low of Rs 50. It finally ended up 3.2% at Rs 52.
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Around 9 lakh shares changed hands on the BSE as against a two-week daily average trade of 7.28 lakh shares.
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(Updated at 0928 hrs)
Ashok Leyland sky-rocketed on reporting a surge in net profits in the third quarter. The stock is trading at Rs 52, stronger by Rs 2 or 5.4%, on the BSE. The shares had opened at Rs 50 and have touched a high of Rs 54 thus far.
The commercial vehicle maker reported a 450 per cent increase in net profit for the quarter ended December 31 at Rs 104.6 crore as against Rs 18.9 crore for the corresponding period in the last financial year.
Sales revenue was up 81 per cent from Rs 1,004.4 crore to Rs 1,815.5 crore. Sales volume for the quarter rose 101 per cent to 16,129 units from 8,011 and parts sales rose 91 per cent.