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Last Updated : Jul 06, 2018 12:03 PM IST | Source: Moneycontrol.com

Kotak Securities upgrades Ashok Leyland to buy; slowdown concerns is overdone

According to Kotak Securities, the slowdown concerns is overdone. It sees EPS CAGR of 21% over FY18-21.

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Shares of Ashok Leyland surged 6 percent intraday Friday as broking house Kotak Securities has upgraded the stock to buy from add rating with a target of Rs 160 share.

According to Kotak Securities, the slowdown concerns is overdone. It sees EPS CAGR of 21% over FY18-21.

At 11:57 hrs Ashok Leyland was quoting at Rs 131.60, up Rs 6.45, or 5.15 percent.

The share touched its 52-week high Rs 167.50 and 52-week low Rs 98.80 on 08 May, 2018 and 11 August, 2017, respectively.

Currently, it is trading 21.31 percent below its 52-week high and 33.4 percent above its 52-week low.

Posted by Rakesh Patil
First Published on Jul 6, 2018 12:01 pm
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