Shares of Ashok Leyland, one of India’s leading commercial vehicle manufacturers, climbed 2% on Tuesday after the company reported stronger-than-expected sales figures for March.
The automaker’s total sales reached 24,060 units in March 2025, marking a 6% increase compared to 22,736 units sold in the same month last year. These figures significantly exceeded market expectations, with a CNBC-TV18 poll previously estimating sales of around 22,358 units.
Medium and heavy commercial vehicles formed the backbone of this growth, with sales in this segment climbing to 16,082 units, representing a robust 12% year-over-year increase from 14,387 units in March 2024.
According to CNBCTV18, the positive sales data sent Ashok Leyland shares to an intraday high of ₹208.4, up 2.04% in Tuesday’s trading session. By 1:55 PM, the stock was trading at ₹207.24, maintaining a gain of 1.48%.
Despite this positive movement, Ashok Leyland shares have experienced mixed performance over longer timeframes. The stock has declined 7% since the beginning of 2025, though it has gained 18.52% over the past year. Currently, shares remain 21.25% below their all-time high of ₹264.65.
Market analysts suggest this sales outperformance could signal improving demand in the commercial vehicle sector, potentially providing momentum for Ashok Leyland in the coming quarters.
Ashok Leyland stands as one of India’s most prominent commercial vehicle manufacturers, with a rich history spanning over seven decades.
The company, the largest supplier of logistics vehicles to the Indian Army, recently announced that it has secured multiple defence contracts worth more than Rs 700 crore.
The newly awarded contracts will cater to troop transportation, logistics, and specialised mobility requirements under the Close-in Weapon Systems (CIWS) program.
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