STOCK MARKET BSE NSE

Ashok Leyland stock tanks over 5 per cent as company plans to suspend production for up to 15 days

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.

Published: 07th October 2019 11:50 AM  |   Last Updated: 07th October 2019 11:50 AM   |  A+A-

sensex, nifty, stock exchange, shares

For representational purposes (File Photo | Reuters)

By PTI

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 flagship said in a regulatory filing on Friday.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp