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HomeNewsBusinessStocksBuy Ashok Leyland; target of Rs 153: Anand Rathi
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Buy Ashok Leyland; target of Rs 153: Anand Rathi

Anand Rathi is bullish on Ashok Leyland has recommended buy rating on the stock with a target price of Rs 153 in its research report dated Jun 25, 2021.

Broker Research
June 30, 2021 / 15:48 IST
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An Edelweiss research report for Q4FY21 says road tonnage continued to improve, evident in e-way bill generation (up 6% QoQ) and improved core trucking rentals. “We estimate tonnage would increase by three–five percent for truckers. Asset-light plays Mahindra Logistics and TCI Express remain our preferred picks due to their ability to scale up/down as the environment demands,” the report said. Edelweiss is bullish on Blue Dart Express due to the pandemic-induced boom in e-commerce and its leaner cost structure. It has retained a ‘buy’ call on Mahindra Logistics, TCI Express and Blue Dart Express.

Anand Rathi's research report on Ashok Leyland

We continue to expect strong replacement demand to come in high-tonnage and multi-axle vehicles, which will drive growth; and subsequent capital formation will further fuel growth beyond FY22. We believe that the company needs to take 10-12% price increase to cover the cost and expect the company to achieve the same.

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Outlook

We maintain a Buy at a higher target price of Rs153 (29x FY23e).

For all recommendations report, click here

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