Ashok Leyland shares surged on Friday after it reported sharp rise in standalone net profit for the quarter ended March 2014. During the quarter, the profit of the company rose 2.42 times to Rs 3,633.93 million from Rs 1,500.33 million in the same quarter last year.
Net sales for the quarter declined 17.48% to Rs 30,767.77 million, compared with Rs 37,284.62 million for the prior year period.
Shares of the company are trading at Rs 32.05, up Rs 3.15, or 10.90% at the Bombay Stock Exchange (BSE) on Friday at 9:49 a.m.
The scrip has touched an intra-day high of Rs 32.30 and low of Rs 30.30. The total volume of shares traded at the BSE is 2,584,318.
Currently, the stock is trading all time 52-week high, which is above 171.15% over the 52-week low of Rs 11.82.