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Diamonds in the Dust | This CV company’s shares appear deflated, but its potential is intact

Despite market volatility, AL runs a fundamentally strong business, with significant potential to grow in India.

March 19, 2020 / 09:44 PM IST
Diamonds in the Dust | This CV company’s shares appear deflated, but its potential is intact

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

The automobile sector was already reeling under multiple blows and the Covid-19 outbreak is a brutal addition to it. In our Diamonds in the Dust series, we identify companies with the potential to bounce back sharply once the dust settles. Today, we have chosen Ashok Leyland (AL) (CMP: Rs64.3, Mcap: Rs18,890 crore), a leader in commercial vehicles in India. AL’s shares had been struggling due to a bleak outlook for CV demand and uncertainties in the near to medium term...

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