Buy Ashok Leyland, target price Rs 133.3: ICICI Direct

ICICI Direct has buy call on with a target price of Rs 133.3. The current market price of Ashok Leyland Ltd. is Rs 129.4. Time period given by analyst is Intra Day when Ashok Leyland Ltd. price can reach defined target.

Ashok Leyland Ltd., incorporated in the year 1948, is a Large Cap company (having a market cap of Rs 38132.50 Crore) operating in Auto sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 6000.28 Crore, up 54.74 % from last quarter Total Income of Rs 3877.62 Crore and up 15.20 % from last year same quarter Total Income of Rs 5208.53 Crore. Company reported net profit after tax of Rs 38.41 Crore in latest quarter.
Investment Rationale
Bullish Hammer like candle at 50% retracement of recent up move

Promoter/FII Holdings
Promoters held 51.1 per cent stake in the company as of Dec 30, 2020, while FIIs held 17 per cent, DIIs 17.6 per cent and public and others 14.3 per cent.

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