Revving to new heights: multibagger commercial vehicles stock hits 52-week high with impressive June 2023 sales!
An astounding surge of over 240 per cent in the stock's value over the past three years.
On Monday, the shares of Ashok Leyland Limited hits fresh 52-week high at Rs 173.85 per share. The intraday high and low are Rs 173.85 per share and Rs 166.65 per share, respectively on BSE.
In June 2023, the domestic M&HCV truck segment witnessed a 4 per cent increase in sales compared to the same period last year, while M&HCV bus sales experienced a significant 86 per cent growth. Overall, the total M&HCV segment recorded a 10 per cent rise in sales. On the other hand, LCV sales remained stable with no significant change.
In terms of cumulative figures, the total number of vehicles sold in June increased by 7 per cent compared to the previous year, contributing to a 5 per cent growth in cumulative sales for the month.
In June 2023, both domestic and export markets showed positive growth for the commercial vehicle industry. Domestic sales of M&HCV trucks increased by 1 per cent compared to the same period last year, while M&HCV bus sales surged by an impressive 42 per cent. The total M&HCV segment recorded a 6 per cent growth.
LCV sales also saw a 2 per cent increase in domestic markets. When considering both domestic and export markets, the total number of vehicles sold in June exhibited a 5 per cent growth compared to the previous year, contributing to a 4 per cent growth in cumulative sales for the month.
Ashok Leyland, the Hinduja group's flagship company, dominates the domestic M&HCV sector with a robust brand, extensive distribution network, and a global presence in 50 countries. Headquartered in Chennai, it operates driver training institutes that have successfully trained over 800,000 drivers.
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The company has exhibited a remarkable growth trajectory, delivering a 14 per cent return within a year and an astounding surge of over 240 per cent in the stock's value over the past three years. Its performance stands as a testament to its success and potential for further advancement.
Investors to keep close eye on this commercial vehicles stock.