Motilal Oswal has issued a “buy” call for Ashok Leyland Ltd. with a target price of Rs 210. Currently, the stock is trading at Rs 178.55.
Ashok Leyland Ltd., an established player in the auto sector, is categorized as a Large Cap company with a market capitalization of Rs 52439.23 Crore.
The company’s key revenue segments encompass Commercial Vehicles, Spare Parts & Others, Sale of services, Engine & Gensets, Ferrous Castings, Scrap, Export Incentives, and Other Operating Revenue. For the quarter ending on June 30, 2023, Ashok Leyland reported a consolidated total income of Rs 9735.45 Crore, reflecting a 34.31% increase compared to the same quarter last year. However, it experienced a decrease of -26.43% compared to the previous quarter. In the latest quarter, the company also reported a net profit after tax of Rs 582.95 Crore.
As of June 30, 2023, the promoters of Ashok Leyland held a 51.53% stake in the company, while foreign institutional investors (FIIs) owned 16.59%, and domestic institutional investors (DIIs) held 20.79%.
Investors considering Ashok Leyland for their investment portfolio may find Motilal Oswal’s “buy” recommendation and target price of Rs 210 to be valuable insights as they evaluate the potential investment in the company.