Ashok Leyland share price gained as much as 3.6 per cent on Monday after the Hinduja Group flagship company on Saturday reported a 31.4 per cent increase in total sales at 12,209 units in December 2015.

At 10.34 am, share price of the company was trading 3.15 per cent up at Rs 91.55. The scrip opened at Rs 90.20 and has touched a high and low of Rs 92.00 and Rs 90.20, respectively, in trade so far. Sensex was trading 258.28 points down at 25,902.62.

Hinduja Group flagship firm Ashok Leyland today reported a 31.4% increase in total sales at 12,209 units in December 2015.

The company had sold 9,290 units in the same month last year.

Shares of automobile companies have extended losses in Monday morning trades and are trading lower after the National Green Tribunal (NGT) on Friday has ordered immediate ban on registration of diesel-run cars in the national capital. The order further states that there won’t be any renewal of registration of vehicles that are older than 10 years in Delhi.

Among individual stocks, Tata Motors has skid over 3% to Rs 366, M&M has slipped nearly 2% to Rs 1,238, Ashok Leyland has dropped 0.7% to Rs 85, and Eicher Motors has lost 2.4% to Rs 15,187 on the Bombay Stock Exchange.

Hinduja Group flagship firm Ashok Leyland today reported 16% increase in total sales at 8,971 units in November as against 7,732 units in the same month last year.

The sales of medium and heavy commercial vehicles jumped 21% to 6,297 units in November as against 5,204 units in the same month a year ago, the company said in a BSE filing.

Hinduja Group flagship firm Ashok Leyland has bagged order for 3,600 vehicles worth USD 200 million (about Rs 1,335 crore) from Cote D’Ivoire.

It has signed a contract with the government of the West African nation, also know as the Ivory Coast, for supply of the vehicles which include trucks and buses and will be delivered over the next 12 months, the company said in a statement.

Shares of automobile companies are in focus with the Bombay Stock Exchange (BSE) S&P BSE Auto index hitting a three-month high ahead of Ashok Leyland, Maruti Suzuki India and Tata Motors inclusion in the MSCI India index. The changes will be implemented as of the close of November 30, 2015.

Tata Motors, Maruti Suzuki India, Ashok Leyland and Bajaj Auto were up 2% each, while Mahindra & Mahindra up 1% on the BSE in late morning deals.

Ashok Leyland is trading higher by 3% at Rs 96.75 on the BSE after the company said it has won a contract for 3600 vehicles worth $200 million from the government of Cote D'Ivoire, a west African country formerly known as Ivory Coast.

The contract is being funded by Exim Bank of India and is pending for final clearance from respective governments, said the company. The order includes supply of trucks and buses, which will be delivered in the next 12 months, Ashok Leyland said in a filing.

Chennai: Nissan Ashok Leyland Technologies Ltd (NALT), an equal joint venture between Nissan Motor Co. of Japan and Ashok Leyland Ltd, has moved the Board for Industrial and Financial Reconstruction (BIFR) due to financial constraints.

According to a document filed with BIFR, the company’s entire networth has been fully eroded due to accumulated losses, which stood at Rs.172.37 crore. Its audited balance sheet for the fiscal ended 31 March 2014, showed its net worth as Rs.52.05 crore.

Ashok Leyland has reported a 137% growth in its net profit for the quarter ended September to Rs 287 crore on a year-on-year basis, riding high on a 64% growth in medium and heavy commercial vehicle (M&HCV) sales. The auto major had clocked a profit of Rs 121 crore in the same quarter last fiscal.

The revenue during the quarter grew 53.5% to Rs 4,940 crore in the quarter under review as compared to Rs 3,218 crore in the same quarter last fiscal. EBITDA during the quarter was higher at R594 crore (12% of the total revenue), the company informed the stock exchanges.

Ashok Leyland continues to gain market share from rivals, with overall sales (commercial vehicles) in September growing at 61% year-on-year as against expectations of a 38% growth.

In the medium and heavy commercial vehicles (M&HCV) segment, its sales were up 83% year-on-year while Tata Motors reported a 53% jump and Volvo Eicher increased its volumes by 27%. Ashok Leyland’s market share in M&HCV has increased from 28.5% in FY15 to over 31% now, its highest level in over a decade.

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