Ashok Leyland in the fast lane: Achieves a record-breaking sales figure in 2023

Monday deals concluded on a sour note, with the Sensex closing lower by 0.93% at 71,355.22, and the Nifty also registering a decline of 0.91%, closing at 21,513.

Recent development

• In this muted market sentiment, Ashok Leyland has achieved a historic milestone by recording its highest-ever sales volume in a calendar year in 2023.

• Surpassing its previous record set in 2018, the company accomplished a total commercial vehicle (CV) volume of 1,98,113 units.

• This remarkable feat highlights Ashok Leyland’s product versatility and robust market presence, solidifying its position as a key player in the domestic and international commercial vehicle industry.

* The success is attributed to the company’s extensive dealership network and comprehensive after-sales service infrastructure, ensuring superior round-the-clock support for customers nationwide.

* Furthermore, the company is poised to build on this success, aiming to maintain its leadership in the global commercial vehicle market.

About the company

Ashok Leyland, the flagship of the Hinduja Group, is a prominent player in the domestic medium and heavy commercial vehicle (M&HCV) segment. With a robust brand presence and a well-diversified distribution and service network spanning the country, the company is a leader in the industry. Operating in 50 countries, Ashok Leyland is known for being one of the most fully integrated manufacturing companies, with its headquarters based in Chennai.

Shareholding pattern

Zooming in on the shareholding pattern, There was a notable cross-border interest observed. The FIIs raised their stake in the company from 16.59% in June 2023 to 20.21% in September 2023.

The growth in FII stakes serves as a positive indicator for the company’s future growth, signalling an optimistic outlook. Additionally, this increase in FII participation boosts confidence among retail investors, further enhancing the overall sentiment towards the company.

Stock performance

Today the shares of Ashok Leyland Limited dipped 0.72%. The 52-week high and low are Rs 191.45per share and Rs 133.10per share, respectively on BSE. The company’s current market capitalisation is Rs 52,307.11crore.

Furthermore, the stock has witnessed significant buying activity as it has given returns of more than 58% in the last 3 years.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.