Moneycontrol PRO

Buy Ashok Leyland; target of Rs 145: Geojit

Geojit is bullish on Ashok Leyland has recommended buy rating on the stock with a target price of Rs 145 in its research report dated Jun 29, 2021.

June 30, 2021 / 04:04 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Geojit's research report on Ashok Leyland


Ashok Leyland (AL) is the second-largest Commercial Vehicle (CV) manufacturer in India. It has a strong presence in the truck segment with a market share of 29% as of FY21. Q4FY21 revenue grew by 45%QoQ due to recovery in the volume by 32%. This was largely attributed to the pick in the construction activities & E-Commerce business (LCV segment). Despite steep increase in RM price, on a sequential basis margin expanded by 230bps, on the back of revenue enhancement and operational efficiency.



Outlook


Considering the positive announcement by the company and Govt.’s intent to kick start the Infra development, we except the valuation to continue at current level, and reiterate our buy rating.

Close

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.

Broker Research
first published: Jun 30, 2021 04:04 pm
Sections
ISO 27001 - BSI Assurance Mark