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

Ashok Leyland has fixed 19 November 2024 as record date for interim dividend of Rs 2 per share for FY 2025. The dividend will be paid on or before 07 December 2024. Powered by Capital Market - Live

Domestic sales stood at 14,067 units in October 2024, down 11% as compared with 15,759 units sold in the same period last year. While total medium and heavy commercial vehicle (M&HCV) sales dropped by 8% to 9,408 units, total light commercial vehicle (LCV) sales fell 12% to 5,902 units in October 2024 over October 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 reported 6.39% fall in consolidated net profit to Rs 509.15 crore in Q1 FY25 as compared with Rs 543.89 crore in Q1 FY24. Revenue from operations rose 10.66% year on year (YoY) to Rs 10,724.49 crore in the quarter ended June 2024.Powered by Capital Market - Live

Ashok Leyland has recorded 9% decline in sales volumes in month of October 2024. The company sold 15,310 units in October 2024 compared to 16,864 units in October 2023. The company's domestic sales were lower by 11% (YoY) at 14,067 units in October 2024. Powered by Capital Market - Live

Ashok Leyland has fixed 19 November 2024 as the record date for the purpose of ascertaining the member's entitlement to receive interim dividend, if any declared.Powered by Capital Market - Live

Ashok Leyland will hold a meeting of the Board of Directors of the Company on 8 November 2024Powered by Capital Market - Live

The domestic equity benchmarks traded with minor losses in mid-morning trade. The Nifty traded below the 24,450 mark after hitting the day's high of 24,480.65 in early trade. FMCG shares declined after advancing in the past trading session. Trading could be volatile due to weekly F&O series expiry today. At 11:30 IST, the barometer index, the S&P BSE Sensex, shed 39.86 points or 0.05% to 80,042.12. The Nifty 50 index lost 28.05 points or 0.11% to 24,407.45. In the broader market, the S&P BSE Mid-Cap index rose 0.08% and the S&P BSE Small-Cap index shed 0.15%. The market breadth was negative. On the BSE, 1,716 shares rose and 1,977 shares fell. A total of 138 shares were unchanged. IPO Update: The initial public offer (IPO) of Godavari Biorefineries received bids for 45,03,072 shares as against 1,12,74,739 shares on offer, according to stock exchange data at 11:20 IST on Thursday (24 October 2024). The issue was subscribed 0.40 times. The issue opened for bidding on Wednesday (23 October 2024) and it will close on Friday (25 October 2024). The price band of the IPO is fixed between Rs 334 to Rs 352 per share. An investor can bid for a minimum of 42 equity shares and in multiples thereof. Buzzing Index: Nifty FMCG index slipped 2.39% to Rs 58,661.65. The index rose 0.16% in the past trading session. Hindustan Unilever (down 6.7%), Varun Beverages (down 2.62%), Godrej Consumer Products (down 2.22%), Nestle India (down 2.18%), United Breweries (down 1.86%), Dabur India (down 1.75%), Colgate-Palmolive (India) (down 1.67%), Marico (down 1.49%), Britannia Industries (down 1.38%) and Procter & Gamble Hygiene and Health Care (down 1.11%) declined. Stocks in Spotlight: Ashok Leyland added 0.93%. The company announced that its subsidiary OHM Global Mobility has bagged an order for 500 12-m ultra-low floor electric buses from the Metropolitan Transport Corporation (MTC), Chennai. TVS Motor Company slipped 1.85%. The company reported 23.49% increase in standalone net profit to Rs 662.62 crore in Q2 FY25 as compared to Rs 536.55 crore posted in Q2 FY24. Revenue from operations rose 13.30% YoY to Rs 9,228.24 crore in the September 2024 quarter. MAS Financial Services declined 2.05%. The company's standalone net profit jumped 27.59% to Rs 76.57 crore in Q2 FY25 as against Rs 60.01 crore posted in Q2 FY24. Total revenue from operations was at Rs 365.05 in Q2 FY25, up 24.09% as against Rs 294.18 crore recorded in same quarter last year. Global Markets: Most Asian shares declined on Thursday. South Korea's GDP expanded 0.1% in the third quarter from the previous one, narrowly avoiding a technical recession, following a 0.2% contraction in the second quarter. On a year-on-year basis, South Korea's economy grew 1.5%. Japanese business activity shrank in October. The au jibun bank flash manufacturing PMI fell to 49.0 in October from 49.7 in September. A reading below 50 indicates contraction, with the sector shrinking for a third consecutive month. The au jibun bank flash services PMI slid to 49.3 in October from 53.1 in the prior month, falling into contraction for the first time since June. The fall in services activity saw the composite PMI for October drop to 49.4 from 52.0 in the prior month. US stocks fell sharply on Wednesday, with the Dow Jones Industrial Average posting its worst day in more than a month, as higher Treasury yields weighed on market sentiment. The S&P 500 lost 0.92%. The 30-stock Dow plunged 0.96%, ending the day's session at 42,514.95. It was the worst day since early September for the blue-chip index. The Nasdaq Composite lost 1.6%. Both the Dow and S&P 500 notched their third straight losing session. Powered by Capital Market - Live