Prefer Ashok Leyland: Gaurang Shah

Gaurang Shah of Geojit Financial Services told CNBC-TV18, "We had a coverage on KPIT Technologies. We dropped it post the targets were in place. So move into commercial vehicle manufacturing sector and something like an Ashok Leyland is what we would recommend. Very recently we have upgraded the target for Ashok Leyland and we remain extremely positive on this particular segment given the penetration and the focus into LCV which is going to be the next vertical in terms of value generation."

At 15:19 hrs Ashok Leyland was quoting at Rs 123.80, up Rs 5.40, or 4.56 percent.

The share touched its 52-week high Rs 133.00 and 52-week low Rs 74.40 on 26 October, 2017 and 02 December, 2016, respectively.

Currently, it is trading 6.92 percent below its 52-week high and 66.4 percent above its 52-week low.