Ashok Leyland tanks 22% in 1 week on margin concerns; hits 15-month low

The company's raw material costs in Q3 rose to 77.9 per cent of sales, up 120 bps quarter-on-quarter

Shares of Ashok Leyland hit a 15-month low of Rs 93.20, slipping 6 per cent on the BSE in Tuesday's intra-day trade, on margin concerns due to rising raw material costs. In the process, the stock of the commercial vehicle maker hit its lowest level since December 2020.

In the past one week, the market price of Ashok Leyland has dipped 22 per cent as compared to a 6 per cent fall in the S&P BSE Sensex. Moreovr, in the past one month, it has tanked 30 per cent, as against a 9 per cent decline in the benchmark