Ashok Leyland rose 3.33% to Rs 83.70 after the company reported 9.76% jump in total vehicle sales to 11,168 units in December 2019 from 10,175 units in November 2019.
Total sales dropped 28% last month from 15,490 units in December 2018. Domestic vehicle sales slumped 29% to 10,378 units in December 2019 from 14,718 units in December 2018.
The company's net profit slumped 89.5% to Rs 56.85 crore on a 48.3% decline in net sales to Rs 3867.99 crore in Q2 September 2019 over Q2 September 2018.
Ashok Leyland, flagship of the Hinduja group, is one of the largest manufacturer of commercial vehicles in India and also amongst the biggest manufacturers of buses and trucks globally.
On the technical front, the stock's RSI (relative strength index) stood 63.55. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading above its 50-day placed at Rs 79.08 and 200-day moving average (DMA) placed at Rs 79.76.
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