Prabhudas Lilladher has issued a buy call on Ashok Leyland Ltd., setting a target price of Rs 220. As of the latest market data, Ashok Leyland Ltd.’s current market price stands at Rs 173.5.
Ashok Leyland Ltd., a key player in the Auto sector, was incorporated in the year 1948. With a market capitalization of Rs 50,721.60 Crore, it operates as a Large Cap company.
Ashok Leyland Ltd.’s key Products/Revenue Segments include Commercial Vehicles, Spare Parts & Others, Sale of services, Engine & Gensets, Ferrous Castings, Scrap, Export Incentives, and Other Operating Revenue, as per the financial year ending on March 31, 2022.
In the financial quarter ending on June 30, 2023, Ashok Leyland reported a Consolidated Total Income of Rs 9735.45 Crore. This figure represents a decrease of 26.43% compared to the Total Income of Rs 13,233.16 Crore in the previous quarter and an increase of 34.31% compared to the Total Income of Rs 7248.49 Crore during the same quarter of the previous year. Moreover, the company achieved a net profit after tax amounting to Rs 582.95 Crore during the latest quarter.
Promoters continue to have a significant stake in Ashok Leyland, holding 51.53% of the company as of June 30, 2023. Furthermore, FIIs (Foreign Institutional Investors) have an ownership of 16.59%, while DIIs (Domestic Institutional Investors) own 20.79%.
This recommendation by Prabhudas Lilladher reflects its positive outlook on Ashok Leyland, indicating potential growth opportunities for investors in the company’s stock.
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