Ashok Leyland on Wednesday (25 March) informed that CARE Ratings revised outlook to negative from stable on the company's long/short term bank facilities worth Rs 3700 crore while reaffirming the rating at 'CARE AA+/ CARE A1+'.

Shares of Ashok Leyland fell 4.07% to Rs 34.20, extending losses for fifth day. The stock has fallen 46.85% in the past five sessions from a recent closing high of Rs 64.35 recorded on 18 March 2020.

Further, the ratings agency had assigned rating of CARE AA+ with negative outlook on the long term bank facilities - term loan of the company while reaffirming the ratings on the commercial paper (standalone) worth Rs 20 billion at CARE A1+.

The scrip has touched an intra-day high of Rs 36.60 and low of Rs 33.70. The total volume of shares traded at the BSE is 1,781,146.

Shares of the company declined Rs 1.2, or 3.37%, to settle  at  Rs 34.45.  The total volume of shares traded  was  1,781,146 at  the BSE (Wednesday).