In heavy trading on Friday, shares of Ashok Leyland surged 7% on the BSE and reached a record high of Rs 248.20.
Ashok Leyland was up 6% at Rs 246.50 at 10:21 AM, while the BSE Sensex was up 0.71 percent during the same period. With a total of 23 million shares traded on the NSE and BSE, the average trading volumes on the counter nearly doubled. Over the last three months, the commercial vehicles (CV) company’s stock has increased by about forty percent.
Shenu Agarwal, Managing Director & CEO of Ashok Leyland, stated during the company’s June quarter (Q1FY25) results announcement on Thursday, “With expansion in revenues and efficient cost management we have seen our bottom line improving substantially. The non-CV businesses also have grown substantially. While we continue to expand our market penetration on the back of efficient products and network expansion, we shall remain acutely focused on achieving midteen earnings, before interest, tax, depreciation and amortization (Ebitda) in the medium term.”
As of 11:12 am, Ashok Leyland shares were trading 6.32 % higher at Rs 247.12.
Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.