These stocks have trading higher by up to 19% today, extending their gain after reported a strong set of numbers for the quarter ended December 2017 (Q3FY18).

Ashok Leyland’s total planned capital expenditure for the 2018-19 financial year, including the expense of expanding its cabin facility, debottlenecking and investment in technologies, would be Rs 5-7 billion, said Chief Financial Officer Gopal Mahadevan.

Analysts expected the company to report a profit of Rs 407 crore.

The city-based commercial vehicle major had sold 14,872 units during same month of last year, the company said in a statement.

Ashok Leyland and Phinergy will work towards the adaptation of unique, competitive, and sustainable solutions for high-energy applications in the commercial vehicles space in order to provide varying energy management solutions to the customers.

Founded in 1948, Ashok Leyland also specialises in spare parts and engines for industrial and marine uses. In the Financial Year 2016, the company sold nearly 1,40,000 vehicles and boasts of a with a market share of 32.1 per cent.

Tata Motors was up 3% at Rs 439, its highest level since November 10, 2017 on the BSE, after the company’s commercial and passenger vehicles domestic sales grew 52% at 54,627 units in December.

"We are coming up with a new product every six months, so the next product would be launched in April or May next year. Ashok Leyland would invest Rs 400 crore on new models in the next two years. The new products are also targeted for export markets", Nitin Seth, president (light commercial vehicles), Ashok Leyland Ltd.

Light commercial vehicle (LCV) sales rose by 44 per cent to 3,819 units, from 2,646 units a year ago.