Buzzing stock: Ashok Leyland rises by 9.83 per cent
Ashok Leyland, the flagship company of the Hinduja Group and India’s leading commercial vehicle manufacturer, today launched the BADA DOST, reinforcing its offering in the LCV (Light Commercial Vehicle) range. Through this, the Company increases its addressable domestic LCV market.
BADA DOST builds on the strong foundation laid by the DOST brand, which is known for reliability, mileage and comfort.
The new vehicle will address the light commercial vehicle (LCV) segment dominated by Mahindra & Mahindra (M&M).
Because of this new product launch, during Monday’s trading session, even as Sensex and Nifty closed negative, the stock of Ashok Leyland increased by 9.83 per cent. Ashok Leyland emerged as the top stock gainer on Monday.
The stock of Ashok Leyland has recovered by 117.27 per cent from its sharp decline in March 2020. The stock has given returns of 48.12 per cent, 55.67 per cent and 19.78 per cent for 3 months, 6 months and 1 year respectively. According to BSE data, the stock has a price-to-book ratio of 2.75.
The share price of the company closed at Rs 74.85.