Shriram Transport Finance Company Ltd, Indiabulls Housing Finance Ltd, Va Tech Wabag Ltd and Mahindra CIE Automotive Ltd are among the other losers in the BSE's 'A' group today, 24 September 2020.

Ashok Leyland Ltd crashed 8.36% to Rs 67.45 at 14:41 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 44.86 lakh shares were traded on the counter so far as against the average daily volumes of 31.05 lakh shares in the past one month.

Shriram Transport Finance Company Ltd tumbled 8.24% to Rs 563. The stock was the second biggest loser in 'A' group.On the BSE, 2.16 lakh shares were traded on the counter so far as against the average daily volumes of 2.09 lakh shares in the past one month.

Indiabulls Housing Finance Ltd lost 7.49% to Rs 140.15. The stock was the third biggest loser in 'A' group.On the BSE, 10.09 lakh shares were traded on the counter so far as against the average daily volumes of 15.62 lakh shares in the past one month.

Va Tech Wabag Ltd shed 7.24% to Rs 172.2. The stock was the fourth biggest loser in 'A' group.On the BSE, 33586 shares were traded on the counter so far as against the average daily volumes of 3.14 lakh shares in the past one month.

Mahindra CIE Automotive Ltd plummeted 6.93% to Rs 129.5. The stock was the fifth biggest loser in 'A' group.On the BSE, 10873 shares were traded on the counter so far as against the average daily volumes of 30206 shares in the past one month.

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Ashok Leyland on Thursday said it received a large order from a logistics start-up company, Procure Box. The start-up has placed an order of 1400 intermediate commercial vehicles for its fuel distribution business across 750 districts, in the country. The order encompasses the Ashok Leyland product - the Ecomet - and will be executed in the next 5-6 months.

Anuj Kathuria, chief operating officer, Ashok Leyland, said, With this order, our orderbook for ICVs has enhanced significantly.

Ashok Leyland's total auto sales have been exhibiting continued sequential improvement since May 2020. The commercial vehicles maker total sales have risen from 1,277 units in May 2020 to 6,325 units in August 2020.

However, when to compared to their corresponding periods last year, the company's auto sales have significant catch up to do. Ashok Leyland's August 2020 sales were still lower by 31% as compared to 9,230 units sold in the same period last year.

Ashok Leyland, flagship of the Hinduja group, is among the largest manufacturer of commercial vehicles in India and also among the biggest manufacturers of buses and trucks globally.

The company posted a consolidated net loss of Rs 388.82 crore in Q1 June 2020 compared with net profit of Rs 274.96 crore reported in Q1 June 2019. Net sales for quarter ending June 2020 stood at Rs 1,480.16 crore, tumbling 77.3% from Rs 6,514.73 crore in the same period last year.

The scrip fell 1.40% to Rs 77.75 on the BSE. It traded in the range of 76.85 and 79.20 so far during the day.

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Ashok Leyland received a large order from a logistics start-up company, Procure Box. The company has placed an order of 1400 intermediate commercial vehicles [ICVs] for its fuel distribution business across 750 districts, in the country. The order encompasses the most successful Ashok Leyland product - the Ecomet and will be executed in the next 5-6 months.

With the addition of 1400 new Ashok Leyland ICVs, the logistics start-up and its associates will become the top fuel bowsing and Gas cylinder logistics company in the industry.

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Ashok Leyland Ltd is up for a fifth straight session in a row. The stock is quoting at Rs 79.1, up 1.61% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.42% on the day, quoting at 11570.45. The Sensex is at 39237.39, up 0.49%. Ashok Leyland Ltd has risen around 26.16% in last one month.

Meanwhile, Nifty Auto index of which Ashok Leyland Ltd is a constituent, has risen around 4.04% in last one month and is currently quoting at 8033.5, up 1.86% on the day. The volume in the stock stood at 373.35 lakh shares today, compared to the daily average of 525.47 lakh shares in last one month.

The benchmark September futures contract for the stock is quoting at Rs 79.15, up 1.67% on the day. Ashok Leyland Ltd is up 31.94% in last one year as compared to a 6.96% spurt in NIFTY and a 16.56% spurt in the Nifty Auto index.

The PE of the stock is 0 based on TTM earnings ending June 20.

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