Shares of Ashok Leyland Ltd. rose despite the company reporting a 12 percent fall in sales for the month of December. India's second largest commercial vehicle maker sold 10,731 units compared to 12,154 units in the same month last year, the company said in a filing to the stock exchanges.
Sales of medium and heavy commercial vehicles fell 9 percent to 8,728 units compared to 9,703 units in December 2015.
The light commercial vehicles segment, such as pick-up trucks, and vans continued to struggle, falling for the third straight month in December. Sales for this segment fell 20 percent to 1,949 vehicles as against 2,451 vehicles in the year ago period.
Shares gained as much as 1.69 percent to Rs 81.45 on the National Stock Exchange.
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