Ashok Leyland shares hit 52-week high, jump 4% in 2 days. Here's why
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Ashok Leyland shares surged to a fresh 52-week high on Tuesday, extending a two-day rally that has stunned the market and pulled in momentum traders, after the commercial vehicle maker posted a sharp jump in November sales. Shares climbed as much as 2.7% to Rs 164.50 on the BSE, adding to Monday’s more-than-1% rise and pushing the stock up about 4% in just two sessions. The gains put the automaker at its strongest level in a year, fuelled by renewed confidence in both its monthly sales momentum and its financial performance through the September quarter. Ashok Leyland reported total sales of 18,272 units in November, up 29% from 14,137 vehicles a year earlier. Demand in the domestic market continued to dominate activity, with 16,491 units sold, a 32% jump from 12,473 in November 2024. Within the domestic portfolio, the company sold 8,576 M&HCV trucks, 1,662 buses, and 6,253 LCVs, reinforcing strength across segments. The sharp pickup ...