Ashok Leyland is an Indian automobile manufacturing company.
The shares of the company have closed on BSE yesterday i.e. on November 2 at a price of Rs 149.35.
The brokerage firm has advised to invest in it at a target price of Rs 185.
New Delhi. Despite the ongoing volatility in the market, some companies are consistently giving good returns to their investors. In this episode, auto sector giant Ashok Leyland, which makes commercial vehicles listed in the stock market, has increased the capital of its investors more than three times in the last two and a half years. At the same time, selling pressure is visible in it for the last two trading days. But market experts believe that there are further bullish trends in it.
The shares of the company have closed on BSE yesterday i.e. on November 2 at a price of Rs 149.35. Its market cap is Rs 43,851.06 crore. Domestic brokerage firm Motilal Oswal has fixed a target of Rs 185 for investing in it. It is 24 percent upside from the current price.
What is the opinion of experts
According to analysts of brokerage firm Motilal Oswal, Ashok Leyland’s cost structure is better and the debt on it is reasonable, that is, in a healthy range. Apart from this, experts believe that voluntary scrapping of trucks will increase the demand for commercial vehicles, which will benefit Ashok Leyland. In such a situation, brokerage firms are seeing it as a better stock to invest in and they have advised investing in it at a target price of Rs 185 (Ashok Leyland Share Price).
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Company’s shares are available at 12% discount
Let us tell you that on March 8, 2022, this year, the shares of Ashok Leyland were at a price of Rs 93.20, which is a record low of one year. However, after this the trend of buying was shown and by 6 September 2022, with an increase of 82 percent, it reached a price of Rs 169.40. This is the company’s record high of the last 52 weeks. After this, the uptrend of the shares stopped and with volatility, it is now at Rs 149.35, which is at a discount of 12 percent from the record high of one year.
about the company
Let us tell you that Ashok Leyland is an Indian automobile manufacturing company. It is the second largest commercial vehicle manufacturer in India. Its headquarter is located in Chennai. The company was established in 1948 by Raghunandan Saran. Ashok Leyland is the world’s fourth largest manufacturer of buses and one of the top 16 companies in the world in the manufacture of trucks.
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FIRST PUBLISHED : November 03, 2022, 12:13 IST