Ashok Leyland is a laggard stock, avoid it: Ajay Srivastava

In a chat with ET Now, Ajay Srivastava, Chief Executive Officer, Dimensions Consulting shares his views on Ashok Leyland. Excerpts:

ET Now: You are bullish on the CV end of the market, do you think Ashok Leyland at the current juncture could be a good smart and attractive contra idea? It is cheap, attractive and the stock, even after the recent run-up is still sitting at a multi-year low?

Ajay Srivastava: Ashok Leyland has been a classic under performer for years now. There is no reason why it should start to become a star performer, let us be honest about it. Poor management, poor vehicles; everything is poor about it. It is a poor stock which is not worth buying into. There may be momentum buying, or maybe arbitrage buying at some point of time to see it catch up but it is a poor stock which should be ignored at all points of time. It has no value in essence, because the management has not done anything great, the product profile is average at best, the financial profile is weak at the best again. So why would you want to go for the stock? It should be ignored to say the least.