Buy Ashok Leyland; target of Rs 285: Sharekhan

Sharekhan's research report on Ashok Leyland

Ahead of the festive season, freight rates are likely to stay high, on a rise in demand. The CV segment is expected to perform better in H2FY25 versus H1FY25.

Outlook

We retain a Buy rating with a PT of Rs. 285 on expectation of sustainable double-digit EBITDA margin and its profit-focused volume growth strategy. The stock trades at a P/E of 21.2x and EV/EBITDA of 12.1x its FY2026E estimates.

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