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Shares of automobile manufacturer Ashok Leyland fell by nearly 3 per cent on the bourses today after the company reported a 17.24 per cent decline in commercial vehicle sales in September, 2011, compared to the same month last year.
Defying the bullish market trend, the company’s shares fell by 2.2 per cent to a low of Rs 24.40 on the BSE. Similarly, on the National Stock Exchange (NSE), the stock fell by 2.8 per cent to a low of Rs 24.30.
Ashok Leyland yesterday reported a 17.24 per cent decline in commercial vehicle sales to 8,576 units in September, 2011, vis-a-vis the corresponding month of the previous year.
The company had sold 10,362 units in the same month of 2010.
Domestic sales stood at 7,456 units in September, 2011, as against 9,512 units in the same month of the previous year, translating into a 21.62 per cent decline.
Meanwhile, the BSE benchmark Sensex was trading higher by 84.29 points at 15,949.15 at 1130 hours.
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