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Last Updated : Dec 26, 2018 03:13 PM IST | Source:

Hold Ashok Leyland; target of Rs 117: Sharekhan

Sharekhan recommended hold rating on Ashok Leyland with a target price of Rs 117 in its research report dated December 24, 2018.

Broker Research @moneycontrolcom
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Sharekhan's research report on Ashok Leyland

Revised axle load norms impacting MHCV volumes, industry mix deteriorating; ALL to be adversely impacted. MHCV volumes are expected to decline by 9% in H2FY2019. Revenue is expected to drop by 12% given the adverse mix. We have cut FY2019 and FY2020 estimates by 16% and 21%.


We downgrade our recommendation on the stock to Hold from Buy earlier with a revised price target of Rs. 117.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

First Published on Dec 26, 2018 03:13 pm
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