Ashok Leyland puts on brakes

Ashok Leyland fell almost 2.5% today to Rs.100.25, not too far from its 52-week low at Rs.97.70.

The monthly sales figures for Dec, like most in the sector, has not been good, with sales falling the most in the past two years.

Its Dec’18 total sales of trucks and buses fell 20% (YoY) at 15,493 units.

Sales of Medium and heavy commercial vehicles fell 29% to 11,295 units while light commercial vehicles sales dropped 27% at 4,198 units.

Looks like overall consumer sentiments have been very subdued for the past couple of months but as is the seasonal trend, as the fiscal end draws to a close, there comes a spurt in the sales.