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Last Updated : Sep 18, 2020 01:22 PM IST | Source: Moneycontrol.com

Buy Ashok Leyland; target of Rs 98: Sharekhan

Sharekhan is bullish on Ashok Leyland has recommended buy rating on the stock with a target price of Rs 98 in its research report dated September 17, 2020.

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Sharekhan's research repor on Ashok Leyland

Ashok Leyland Ltd (ALL) is witnessing month on month improvement in MHCV sales as economic activities pick up with the Government opening the economy. We expect MHCV industry to witness stronger recovery cycle from FY22 driven by normalisation of economic activity and pent up demand. With the launch of a new LCV platform, ALL has closed an important gap in its product portfolio and is expecting to double its addressable market size. We expect strong 56% earnings CAGR over FY20-23 period driven by healthy volume growth and margin expansion due to operating leverage.


We retain Buy rating on ALL with revised TP of Rs 98 as we rollover to FY23 earnings.

For all recommendations report, click here

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First Published on Sep 18, 2020 01:22 pm