Ashok Leyland stock tanks over 5 pc as co plans to suspend production for up to 15 days
7 Oct 2019 12:13 PM IST
On the BSE, the Ashok Leyland stock slumped 5.29 per cent to Rs 64.50.
Ashok Leyland Chairman Dheeraj Hinduja said the company has been able to maintain its market share despite competitive pressures in the face of rising costs of input materials and regulatory changes.
New Delhi: Shares of Ashok Leyland plunged over 5 per cent on Monday after the company said it will suspend manufacturing operations at its various plants for up to 15 days in October.
On the BSE, the stock slumped 5.29 per cent to Rs 64.50.
The scrip plunged 5.36 per cent to Rs 64.40 on the NSE.
The commercial vehicle major on Friday said it will suspend manufacturing at its various plants for up to 15 days this month in order to adjust production to market demand.
"To align our production in line with our sales, the company's plants at various locations will be observing non-working days ranging from 2-15 days, during the month of October," the Hinduja Group flagship said in a regulatory filing on Friday.
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