Riding on the tailwind for the commercial vehicle (CV) industry, the final quarter of FY22 was very strong for Ashok Leyland (CMP: Rs 130, Mcap: Rs 38,250 crore). Volume, an important performance indicator for the company, improved substantially sequentially. Operating profitability also improved on the back of significant operating leverage. The outlook going forward looks promising as demand has picked up and is better than the pre-Covid levels. Moreover, its strong product portfolio and an increase in market share augur...