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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