Future prospects gave the Ashok Leyland stock a boost on the BSE. The scrip of the Hinduja Group truck maker edged up 0.33 per cent to close at Rs 120.05 on the good performance of the commercial vehicles sector.
The last few trading sessions have seen the scrip rising 28 per cent from Rs 93.55 on March 10, 2003, to Rs 120.20 currently.
A total of 1.38 lakh shares changed hands on the BSE. The stock has surged 47 per cent from a low of Rs 81.35 on November 15, 2002.
A strong volume growth in medium and heavy commercial vehicle (M&HCVs) sales and the company's strategy to cash in on the new Hino engines for M&HCVs (which offer higher fuel and lower maintenance) have boosted the stock.