Ashok Leyland Ltd.'s sales rose at the fastest pace in a year as demand for trucks grew on stricter implementation of load restrictions and expected rollout of e-way bill under the Goods and Services Tax.
Sales increased for the fourth straight month in September as the truck and busmaker sold 15,370 units, 28 percent higher compared to the same month last year, the company said in an exchange filing.
Also Read: Ashok Leyland Pins Hopes On Festive Season, Lower Freight Rates For Better Sales
Medium and heavy commercial vehicle sales increased 32 percent year-on-year, the highest in 12 months. Volumes of light commercial vehicles rose 15 percent on a yearly basis.
Shares of the Chennai-based firm extended gains for the third day and rose as much as 2.5 percent to Rs 126.2 apiece after the announcement. It has returned 55.4 percent so far this year, against a 21.07 percent gain in the S&P BSE Auto Index.
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