Stay invested in Ashok Leyland, target Rs 90: Shahina Mukadam

Shahina Mukadam, Independent Market Expert told CNBC-TV18, "One should continue holding Ashok Leyland. Basically, this has been a difficult time, but given the expected growth turned around better improvement in economy in the next year, both the heavy commercial vehicle (HCV) and medium and heavy commercial vehicles (MHCV) growth should be good. Even the light commercial vehicle (LCV) growth should be reasonably good next year.""Volumes which have been a bit disappointing with 6-7 percent type of growth numbers and volumes that we are likely to see to an extent, it is disappointing, but we should see better improvement going forward.""I see a price of around Rs 90 with a one year target. In fact, if it can cross that Rs 90, I would see a much higher level of almost about Rs 100-120 also. So, definitely one should continue to hold. I would keep a very deep stoploss of around Rs 75," she added.