Ashok Leyland slips 3% as plant shut for 9 days

Shares of Ashok Leyland declined over 3 per cent in early trade on Tuesday after it informed bourses that the company’s plant situated at Pantnagar will remain closed from July 16-24, owing to weak demand and outlook for the industry.

The scrip was trading 3.16 per cent down at Rs 82.80, while the BSE Sensex was 0.05 per cent lower at 38,877 at around the same time.

The Hinduja group flagship firm earlier posted 19 per cent fall in total vehicle sales at 12,810 units in June as against 15,792 units in the same month last year.


Total domestic sales were at 12,085 units last month as compared to 14,091 units in June last year, down 14 per cent.

Medium and heavy commercial vehicles (M&HCV) sales in domestic market were down 19 per cent at 7,780 units in June this year, as compared to 9,616 units in the year-ago month, the company said in a regulatory filing.

Light commercial vehicle sales last month stood at 4,305 units as compared to 4,475 units in June 2018, down 4 per cent, the company said.

The shares of the company pared losses and closed 1.05 per cent higher at Rs 86.40 on BSE.