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    HomeNewsBusinessStocksBuy Ashok Leyland; target of Rs 72: Motilal Oswal

    Buy Ashok Leyland; target of Rs 72: Motilal Oswal

    Motilal Oswal is bullish on Ashok Leyland recommended buy rating on the stock with a target price of Rs 72 in its research report dated August 13, 2020.

    Broker Research
    August 16, 2020 / 07:20 IST
       
       
      26 Aug, 2025 12:21
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      Motilal Oswal 's research report on Ashok Leyland

      Ashok Leyland’s (AL) 1QFY21 performance was supported by non-vehicle revenue, leading to better mix. While M&HCV recovery is expected only in 2HFY21, expansion in LCVs should reduce the pain. Net debt has inched up but should reduce in 2HFY21.

      Outlook

      We expect gradual recovery from 2HFY21, and hence, have tweaked our estimates. Maintain Buy with TP of INR72 (~10x Sep’22E EV/EBITDA + INR8.5/share for HLFL).

      For all recommendations report, click hereDisclaimer: 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.

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      Broker Research
      first published: Aug 16, 2020 07:20 am

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