The continuing slowdown in the Commercial Vehicle business and a YOY drop of 32% in Total Industry Volume (TIV) in Q3 reflected in Ashok Leyland’s performance with Company revenue for the quarter closing at Rs.1,953 crores (Rs. 2,406 crores same period last year) with a net loss (PAT) of Rs. 167 crores (PAT Rs. 74 crores, same period last year).
The quarter saw the launch of the critically acclaimed ICV truck, BOSS and MPV STiLE. Ashok Leyland gained market share in the trucks business buoyed by the success of the BOSS in every market where it has been launched.
However we see the story not ending there nor do we see any gain for the stock price, rather the stock would drift back to Rs. 13. and a good SHORTING candidate.
The quarter saw the launch of the critically acclaimed ICV truck, BOSS and MPV STiLE. Ashok Leyland gained market share in the trucks business buoyed by the success of the BOSS in every market where it has been launched.
However we see the story not ending there nor do we see any gain for the stock price, rather the stock would drift back to Rs. 13. and a good SHORTING candidate.