Ashok Leyland is currently trading at Rs. 15.75, down by 0.35 points or 2.17% from its previous closing of Rs. 16.10 on the BSE.
The scrip opened at Rs. 16.25 and has touched a high and low of Rs. 16.50 and Rs. 15.70 respectively. So far 478401 shares were traded on the counter.The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 28.70 on 03-Dec-2012 and a 52 week low of Rs. 15.65 on 16-Jul-2013.
Last one week high and low of the scrip stood at Rs. 18.80 and Rs. 15.65 respectively. The current market cap of the company is Rs. 4203.87 crore.
The promoters holding in the company stood at 38.61% while Institutions and Non-Institutions held 29.88% and 18.09% respectively.
After reporting net loss in its Q1FY14, Ashok Leyland has slashed its total investments by almost one-fourth to Rs 400 crore this year to protect costs. The company also resorted to lay off its temporary workforce last quarter that resulted in 1,300 job cuts in addition to a 5% salary cut for the executive cadre, which resulted in savings of Rs 10 crore.
Meanwhile, the company has reduced working days and labours in June to align demand. The reduction in labours will help to reduce cost.
The company reported net loss of Rs 141.75 crore for the quarter as compared to net profit of Rs 66.94 crore for the quarter ended June 30, 2012. Its total Income decreased by 21.83% to Rs 2376.07 crore for the quarter ended June 30, 2013 from Rs 3039.76 crore for the corresponding quarter of the previous year.
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