Axis Securities has given a buy rating to Ashok Leyland with a target price of Rs 90. The share price moved down by 1.83 per cent from its previous close of Rs 73.90. The stock’s last traded price is Rs 72.55.

Ashok Leyland Ltd., incorporated in the year 1948, is a Large Cap company (having a market cap of Rs 21590.80 Crore) operating in Auto sector.

Financials
For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 1480.16 Crore, down 70.91 % from last quarter Sales of Rs 5088.04 Crore and down 77.28 % from last year same quarter Sales of Rs 6514.73 Crore. The Company reported net profit after tax of Rs -385.85 Crore in latest quarter.

ashok

Investment Rationale
AL is scaling up its non-truck businesses to mitigate the impact of business cyclicality and earnings volatility. These businesses include spare parts, exports, LCV, defense and power solutions.. AL has reiterated its focus on diversifying revenue and building a lean business model to better withstand current and future downturns. AL’s electric vehicle thrust is likely to drive most of the EV bus sales volume in the upcoming financial years.


Promoter/FII Holdings
Promoters held 51.5 per cent stake in the company as of June 30, 2020, while FIIs held 15.7 per cent, DIIs 14 per cent and public and others 18.8 per cent.





Source link
#ashok #leyland #share #price #Buy #Ashok #Leyland #target #price #Axis #Securities

Leave a comment

Your email address will not be published. Required fields are marked *