Vehicle cabs move along an Ashok Leyland Ltd. production line in Hosur, India (Photographer: Rogan Macdonald/Bloomberg News)

Ashok Leyland Sales Jump 25% In August

Ashok Leyland Ltd.’s sales rose for the third straight month in August. The truck and bus maker sold 13,634 units during the month, 25 percent higher compared to the corresponding period last year, the company said in an exchange notification.

The consensus estimate of analysts tracked by BloombergQuint stood at 12,300 units. Sales for medium and heavy commercial vehicle segment grew by 29 percent, while the growth was 14 percent for light commercial vehicles.

Shares of the Chennai-based firm rose as much as 5.7 percent, the most in nearly two-months to Rs 113.25, after the announcement. It has returned 40 percent so far this year, against a 18.9 percent gain in the S&P BSE Auto Index.