Ashok Leyland Shares Hit 52-Week Highs. UBS upgrades the stock. Should you Buy, Sell or Hold?
On Friday, Ashok Leyland’s share price surged over 6% during morning trades, reaching a 52-week high. The shares opened at ₹235.10 on the NSE, slightly above the previous close of ₹232.43, and quickly climbed to ₹248.20.
The jump followed Ashok Leyland’s announcement of its Q1 financial performance on Thursday. UBS Research upgraded the stock, boosting investor confidence.
In their report dated July 25, UBS Research stated, “We upgrade Ashok Leyland from Neutral to Buy due to the strong demand for Medium and Heavy Commercial Vehicles (MHCV), a favorable pricing environment, and attractive valuation.” They noted that while Ashok Leyland is trading in line with its five-year average, most other vehicle manufacturers are trading at much higher valuations.
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