The key equity indices traded with substantial gains in morning trade. The Nifty traded above the 23,850 mark. Auto shares extended gains for the third consecutive trading session. Trading could be volatile due to weekly F&O series expiry today. At 10:30 IST, the barometer index, the S&P BSE Sensex jumped 449.03 points or 0.60% to 78,979.62. The Nifty 50 index rallied 132.95 points or 0.56% to 23,875.85. In the broader market, the S&P BSE Mid-Cap index shed 0.01% and the S&P BSE Small-Cap index gained 0.23%. The market breadth was strong. On the BSE, 2,174 shares rose and 1,414 shares fell. A total of 173 shares were unchanged. Economy In December 2024, the seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index' (PMI) fell to 56.4, marking a 12-month low and indicating a slower improvement in operating conditions. The headline figure declined slightly from 56.5 in November but remained above the long-run average of 54.1, signaling a robust rate of growth. Looking to 2025, Indian manufacturers were confident of a rise in output. Optimism reflected advertising, investment and expectation of favourable demand. Sentiment was nevertheless curbed by concerns around inflation and competitive pressures. Ines Lam, Economist at HSBC, said, 'India's manufacturing activity ended a strong 2024 with a soft note amidst more signs of a slowing trend, albeit moderate, in the industrial sector. The rate of expansion in new orders was the slowest in the year, suggesting weaker growth in future production. That said, there was some uplift in the growth of new export orders, which rose at the fastest pace since July. The rise in input prices eased slightly, wrapping up the year when Indian manufacturers felt the strain of sharp cost pressures.' Buzzing Index: The Nifty Auto index gained 1.05% to 23,381.65. The index rallied 2.69% in three consecutive trading sessions. Ashok Leyland (up 2.36%), Mahindra & Mahindra (up 1.42%), Tube Investments of India (up 1.13%), TVS Motor Company (up 1.12%), Maruti Suzuki India (up 0.93%), Eicher Motors (up 0.84%), Hero MotoCorp (up 0.76%), Bajaj Auto (up 0.68%), Samvardhana Motherson International (up 0.61%) and Tata Motors (up 0.27%) advanced. On the other hand, Apollo Tyres (down 1.62%), MRF (down 0.81%) and Balkrishna Industries (down 0.41%) edged lower. Stocks in Spotlight: Ashok Leyland jumped 4.15% after the company reported 4.97% increased in total vehicle sales to 16,957 units in December 2024, compared to 16,154 units sold in December 2023. RailTel Corporation of India surged 6.77% after the company said that it has received the work order from Bharat Coking Coal for works amounting to Rs 78.43 crore. Powered by Capital Market - Live

The company's domestic sales gained 3.69% to 15,713 units in December 2024 as against 15,153 units recorded in the same period last year. Total medium and heavy commercial vehicle (M&HCV) sales increased by 7.93% to 11,474 units in December 2024. However, total light commercial vehicle (LCV) sales decreased by 0.74% to 5,483 units compared to December 2023. Ashok Leyland is engaged in the manufacture and sale of a wide range of commercial vehicles. The company also manufactures engines for industrial and marine applications, forgings, and castings. The company's consolidated net profit jump 34.14% to Rs 705.64 crore in Q2 FY25 as against Rs 526.01 crore posted in Q2 FY24. Revenue from operations declined 2.35% to Rs 11,147.58 crore posted in the second quarter of FY25 as against Rs 11,416.66 crore posted in Q2 FY24.Powered by Capital Market - Live

Ashok Leyland achieved total sales of 16,957 units in month of December 2024 compared to 16,154 units in December 2023, recording a growth of 5%. Total sales include domestic sales of 15,713 units (up 4%). The company achieved 8% growth in medium and heavy commercial vehicle sales at 11,474 units while light commercial vehicle sales rose 1% to 5,483 units. Powered by Capital Market - Live

Ashok Leyland announced a price increase of up to 3% on its entire range of Commercial Vehicles, effective January 2025. The extent of price increase will vary depending on model and variant, however all products across the range will be affected. Inflation and higher commodity prices have necessitated this price increase. This move will help mitigate a part of the input cost impact.Powered by Capital Market - Live

The company stated in an exchange filing that the order was awarded following a standard tender process, with prudent business norms, terms and conditions. It also confirmed that there are no adverse terms or conditions under the contract. The order will be executed between December 2024 and May 2025. In another development, Ashok Leyland has announced the voluntary liquidation of its step-down subsidiary, LLC Ashok Leyland Russia. Following the completion of the liquidation process, LLC Ashok Leyland Russia is no longer a subsidiary of the company. Ashok Leyland is engaged in manufacture and sale of a wide range of commercial vehicles. The company also manufactures engines for industrial and marine applications, forgings and castings The company's consolidated net profit jump 34.14% to Rs 705.64 crore in Q2 FY25 as against Rs 526.01 crore posted in Q2 FY24. Revenue from operations declined 2.35% to Rs 11,147.58 crore posted in the second quarter of FY25 as against Rs 11,416.66 crore posted in Q2 FY24. The scrip shed 0.35% to Rs 229.05 on the BSE. Powered by Capital Market - Live

The company's domestic sales declined 4.28% to 12,473 units in November 2024 as against 13,031 units recorded in the same period last year. Total medium and heavy commercial vehicle (M&HCV) sales increased by 7.95% to 9,176 units in November 2024. However, total light commercial vehicle (LCV) sales decreased by 10.66% to 4,961 units compared to November 2023. Ashok Leyland is engaged in manufacture and sale of a wide range of commercial vehicles. The company also manufactures engines for industrial and marine applications, forgings and castings The company's consolidated net profit jump 34.14% to Rs 705.64 crore in Q2 FY25 as against Rs 526.01 crore posted in Q2 FY24. Revenue from operations declined 2.35% to Rs 11,147.58 crore posted in the second quarter of FY25 as against Rs 11,416.66 crore posted in Q2 FY24. The scrip slipped 1.66% to Rs 228.15 on the BSE. Powered by Capital Market - Live

Ashok Leyland Ltd rose for a third straight session today. The stock is quoting at Rs 223.63, up 1.53% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 1.25% on the day, quoting at 23745.85. The Sensex is at 78326.94, up 1.28%. Ashok Leyland Ltd has added around 2.68% in last one month. Meanwhile, Nifty Auto index of which Ashok Leyland Ltd is a constituent, has added around 6.42% in last one month and is currently quoting at 23043.85, up 2.55% on the day. The volume in the stock stood at 37.24 lakh shares today, compared to the daily average of 85.08 lakh shares in last one month. The benchmark November futures contract for the stock is quoting at Rs 223.69, up 3.12% on the day. Ashok Leyland Ltd is up 29.9% in last one year as compared to a 20.57% gain in NIFTY and a 40.86% gain in the Nifty Auto index.The PE of the stock is 23.61 based on TTM earnings ending September 24.Powered by Capital Market - Live

Revenue from operations declined 2.35% to Rs 11,147.58 crore posted in the second quarter of FY25 as against Rs 11,416.66 crore posted in Q2 FY24. Profit before tax was at Rs 1,078.06 crore in Q2 FY25, marking a growth of 16.25% as against Rs 927.31 crore posted in Q2 FY24. The company reported exceptional items of Rs 119.02 crore in Q2 FY25 as against exceptional loss of Rs 38.39 crore posted in Q2 FY24. Ashok Leyland recorded an 11.6% rise in EBITDA for the September 2024 quarter at Rs 1,017 crore as compared to 11.2% (Rs 1,080) crore posted in the corresponding quarter of the previous financial year. On half year basis, the company's net profit gained 13.54% to Rs 1,214.79 crore on 0.18% rise in revenue from operations to Rs 18,896.95 crore in H1 FY25 over H1 FY24. Dheeraj Hinduja, executive chairman, Ashok Leyland, said, 'The Indian Economy is expected to do well in the second half which would benefit our industry. We remain optimistic about industry prospects for H2 on back of strong macroeconomic fundamentals, supported by resumption of Government spending in capex and good monsoons. Our robust all-round performance in Q2 is backed by our technologicol and cost leadership. Internationally as well, we are intensifying our expansion strategy in our focus markets of SAARC, Middle East, Africa and Asia, aimed at posting the best performance ever during this fiscal. We continue to invest in new products with alternative fuels. Switch is doing well with an order book of nearly 2000 buses.' Shenu Agarwal, MD & CEO, Ashok Leyland, added, Our focus on profitability continues. We are happy that we could improve our profitability by focusing on premiumization of our products, addressing cost compression opportunities, and continuously elevating our standards of customer service. Our PAT for Q2FY25 is an all-time high. Our EBITDA margins have improved both sequentially and on YaY basis, making this the seventh consecutive quarter of double-digit EBITDA. We are well on track to achieve mid-teen EBITDA in the medium term. Meanwhile, the company's board declared an interim dividend of Rs 2 per share for FY25. The said interim dividend will be paid on or before 7 December 2024. Ashok Leyland is engaged in manufacture and sale of a wide range of commercial vehicles. The company also manufactures engines for industrial and marine applications, forgings and castings.Powered by Capital Market - Live

Ashok Leyland announced that the Board of Directors of the Company at its meeting held on 8 November 2024, inter alia, have recommended the interim dividend of Rs 2 per equity Share (i.e. 200%) , subject to the approval of the shareholders.Powered by Capital Market - Live

Net profit of Ashok Leyland rose 34.15% to Rs 705.64 crore in the quarter ended September 2024 as against Rs 526.01 crore during the previous quarter ended September 2023. Sales declined 2.37% to Rs 11104.95 crore in the quarter ended September 2024 as against Rs 11374.90 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales11104.9511374.90 -2 OPM %18.3716.44 - PBDT1203.071192.31 1 PBT959.04965.70 -1 NP705.64526.01 34 Powered by Capital Market - Live