Ashok Leyland Accelerates on Bonus Issue
Ashok Leyland rose 2.38% to Rs 51.65 at 9:21 IST on BSE after the company’s board announced a liberal 1:1 bonus issue. The board announced the bonus issue after trading hours on Wednesday, 15 June 2011. Meanwhile, the BSE Sensex was down 84.68 points, or 0.47%, to 18,047.56.
On BSE, 4.07 lakh shares were traded in the counter compared with average volume of 4.18 lakh shares over the past two weeks. The stock hit a high of Rs 53.80 and a low of Rs 50.50 so far during the day. Ashok Leyland’s net profit rose 33.9% to Rs 298.23 crore on 30.3% increase in net sales to Rs 3828.53 crore in Q4 March 2011 over Q4 March 2010.
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