Ashok Leyland to observe non-working days in five plants
- Ashok Leyland reported a 28% decline in total sales at 10,927 vehicles in July
- Shares of the company is down 1.10% on BSE at ₹63.20.
New Delhi: Hinduja Group flagship, Ashok Leyland on Monday announced that the company will observe non-working days in five plants this month.
“We write to inform you that the following are the non-working days at our various plant locations during September 2019, due to continued weak demand for our products,” said Ashok Leyland in a regulatory filing.
According to the filing, Ennore plant will have 16 non-working days, Hosur 1, 2 and CPPS five days, Alwar and Bhandara 10 days and Pantnagar will have 18 non-working days.
Ashok Leyland reported a 28% decline in total sales at 10,927 vehicles in July as against 15,199 units in the same month last year. Total domestic sales were at 10,101 units last month as compared to 14,205 units in July 2018, down 29%, the company said in a statement. Medium and heavy commercial vehicles (M&HCV) sales in domestic market were down 41% at 6,018 units last month as compared to 10,152 units in the year-ago period, it added. Light commercial vehicle sales in July 2019 stood at 4,083 units as compared to 4,053 units in same month last year, the company said.
However, the second largest medium and heavy commercial vehicle (MHCV) manufacturer of India is hopeful that the demand for construction and mining trucks will return on the back of the renewed government spending on road construction projects, Anuj Kathuria, chief operating officer had told Mint speaking on the sidelines of the annual convention organized by Society of Indian Automobile Manufacturers (Siam) at New Delhi last week.
Shares of the company is down 1.10% on BSE at ₹63.20. The scrip had touched its 52-week low of ₹56.95 on 23 August, 2019. On NSE, the stock is trading 1.88%.
Catch all the Business News , Corporate news , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
MoreLess
First Published:9 Sep 2019, 11:05 AM IST
- Top Gainers
- Top Losers
- 52 Week High