Ashok Leyland Announces Non-Working Days For November
Hinduja Group flagship Ashok Leyland Ltd. on Friday announced non-working days ranging from 0-12 days in November to adjust production in line with market demand.
"...in order to align production in line with the market demand for our products, the company proposes to observe non-working days ranging from 0-12 days during the month of November,” Ashok Leyland said in an exchange filing on Friday.
According to a data from industry body Society of Indian Automobile Manufacturers, passenger vehicle sales dropped 23.69 percent in September, making it the 11th consecutive month of declines.
In the April-September period of 2019-20, total domestic commercial vehicle sales fell 22.95 percent to 375,480 units as against 487,319 units in the corresponding period of the previous fiscal.
On Friday, Ashok Leyland shares fell 1.04 percent to Rs 75.90 apiece on the BSE while the benchmark Sensex gained 0.09 percent to end the day at 40,165.03 points.