Buy Ashok Leyland, target price Rs 145: Yes Securities

Yes Securities has buy call on with a target price of Rs 145. The current market price of Ashok Leyland Ltd. is Rs 133.5.

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 39189.29 Crore) operating in Auto sector.

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 8176.73 Crore, up 36.27 % from last quarter Total Income of Rs 6000.28 Crore and up 59.48 % from last year same quarter Total Income of Rs 5127.11 Crore. Company reported net profit after tax of Rs 374.66 Crore in latest quarter.

Investment Rationale
Recent decline found renewed buying interest near the 20-day average. Swift recovery from lower levels is likely to resume the prevailing uptrend.

Promoter/FII Holdings
Promoters held 51.5 per cent stake in the company as of March 31, 2021, while FIIs held 18.2 per cent, DIIs 16.6 per cent and public and others 13.7 per cent.