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    ASHOKLEY   INE208A01029

ASHOK LEYLAND LIMITED

(ASHOKLEY)
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Delayed Quote. Delayed NSE India Stock Exchange - 06/18 05:07:05 am
116.95 INR   -3.51%
06/15ASHOK LEYLAND  : UK Arm Acquires Switch Mobility Automotive
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06/01ASHOK LEYLAND  : Domestic Sales Soar 114% in May
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05/10Indian auto dealers predict slow sales recovery as virus spreads to rural areas
RE
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Indian auto dealers predict slow sales recovery as virus spreads to rural areas

05/10/2021 | 09:27am EDT
Cars are seen parked at Maruti Suzuki's plant at Manesar

NEW DELHI (Reuters) - India's leading automobile dealers association on Monday said sales will take longer to recover than they did after the first wave of COVID-19 infections last year as the virus spreads to villages and smaller towns.

Auto sales, especially cars and sport-utility vehicles (SUVs), bounced back strongly last year as buyers rushed to buy private vehicles to ensure safety and maintain social distance.

With infections now spreading to rural areas, a recovery is expected to take longer, the Federation of Automobile Dealers Association (FADA) said. The association said it expects sales to return to their peak levels of March 2019 only by fiscal year 2023 - about two years from now.

India's daily infections are close to record highs with the second wave of COVID-19 spreading from hard-hit cities like New Delhi and Mumbai to rural areas that are home to nearly 70% of the 1.3 billion population but where public healthcare is limited.

Many states have imposed strict lockdowns over the last month while other states have placed curbs on movement of people and shut cinemas, restaurants, pubs and shopping malls.

"India is currently facing one of its toughest times with the second wave of COVID creating a havoc in everyone's life," said FADA President Vinkesh Gulati.

FADA said registrations of new vehicles, including cars, SUVs, motorbikes and trucks, for April were 28% lower than March, and sales would continue to remain sluggish in May with some lockdowns extended until the end of the month.

Consumer sentiment in the first nine days of May was "extremely weak" with most of the country under partial or full lockdown, FADA said. The association said that even where car dealerships are open walk-in customer numbers have dropped to 30% of normal levels and many are delaying their purchase decision.

Most automakers, including Maruti Suzuki Ltd, India's top-selling carmaker, and Hero MotoCorp, the country's largest motorbike manufacturer, have extended plant shutdowns until May 16 due to a spike in cases.

(Reporting by Aditi Shah. Editing by Jane Merriman)

By Aditi Shah


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ASHOK LEYLAND LIMITED -3.34% 116.95 Delayed Quote.26.98%
BAJAJ AUTO LIMITED -1.38% 4053.9 End-of-day quote.10.30%
HERO MOTOCORP LIMITED -2.06% 2914.8 End-of-day quote.-6.26%
MAHINDRA AND MAHINDRA LTD -1.95% 788.15 Delayed Quote.11.81%
MARUTI SUZUKI INDIA LTD -0.21% 6949.3 Delayed Quote.-8.89%
TATA MOTORS LIMITED -1.06% 345.6 End-of-day quote.88.13%
All news about ASHOK LEYLAND LIMITED
06/15ASHOK LEYLAND  : UK Arm Acquires Switch Mobility Automotive
MT
06/01ASHOK LEYLAND  : Domestic Sales Soar 114% in May
MT
05/10Indian auto dealers predict slow sales recovery as virus spreads to rural are..
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05/05TATA MOTORS  : India orders antitrust probe into Tata Motors' truck sales to som..
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05/02ASHOK LEYLAND  : Sells 8,340 Units in April
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04/18ASHOK LEYLAND  : Delivers Light Bulletproof Vehicles to Indian Air Force.
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04/15ASHOK LEYLAND  : Forms New Freight Mobility Services Company
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04/12Pandemic pushes India's passenger vehicle sales to six-year low
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04/12Pandemic pushes India's passenger vehicle sales to six-year low
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04/07ASHOK LEYLAND  : UK Electric Vehicle Subsidiary to Form Two New Units as Part of..
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More news
Financials
Sales 2021 146 B 1 964 M 1 964 M
Net income 2021 -3 241 M -43,7 M -43,7 M
Net Debt 2021 28 361 M 383 M 383 M
P/E ratio 2021 -104x
Yield 2021 0,08%
Capitalization 356 B 4 793 M 4 801 M
EV / Sales 2021 2,64x
EV / Sales 2022 1,62x
Nbr of Employees 12 005
Free-Float 64,8%
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Last Close Price 121,20 
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Managers and Directors
NameTitle
Vipin Sondhi Chief Executive Officer, MD & Director
Gopal Mahadevan Chief Financial Officer & Director
Dheeraj Gopichand Hinduja Executive Chairman
Venkatesh Natarajan Chief Digital Officer & SVP-Information Technology
N. Saravanan Chief Technology Officer
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1st jan.Capitalization (M$)
ASHOK LEYLAND LIMITED26.98%4 793
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