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

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.

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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%.


Outlook


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


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First Published on Dec 26, 2018 03:13 pm
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