Buy Ashok Leyland, target price Rs 101: Motilal Oswal

Motilal Oswal has buy call on Ashok Leyland with a target price of Rs 101. The current market price of Ashok Leyland Ltd. is Rs 94.7.

Ashok Leyland Ltd., incorporated in the year 1948, is a Large Cap company (having a market cap of Rs 28004.93 Crore) operating in Auto sector.

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 3852.84 Crore, up 160.30 % from last quarter Sales of Rs 1480.16 Crore and down -23.45 % from last year same quarter Sales of Rs 5033.06 Crore. Company reported net profit after tax of Rs -96.32 Crore in latest quarter.

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.