Moneycontrol Be a Pro
Get App
Last Updated : Jun 13, 2019 01:56 PM IST | Source: Moneycontrol.com

Accumulate Ashok Leyland; target of Rs 109: Dolat Capital

Dolat Capital recommended Accumulate rating on Ashok Leyland with a target price of Rs 109 in its research report dated May 27, 2019.

Broker Research @moneycontrolcom
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Dolat Capital's research report on Ashok Leyland


Ashok Leyland (AL)’s revenue and operating performance were in line with our estimates in 4QFY19. We believe M&HCV truck growth will trend down in 1QFY20, due to impact of relaxation in axle load norm, liquidity constraint, a high base, and high fuel prices. However, the growth momentum will continue to be strong for the medium-to-long term, driven by 1) pick-up in infrastructure, construction, e-commerce, and mining activities; 2) pre-purchases for BS-VI in 2Q/3QFY20; and 3)
introduction of scrappage policy in FY21.


Outlook


We recommend Accumulate, with TP ` 109(16xFY21E EPS).


For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.




The Great Diwali Discount!
Unlock 75% more savings this festive season. Get Moneycontrol Pro for a year for Rs 289 only.
Coupon code: DIWALI. Offer valid till 10th November, 2019 .
First Published on Jun 13, 2019 01:56 pm
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant