Buy Ashok Leyland, target price Rs 152: ICICI Direct

ICICI Direct has buy call on Ashok Leyland with a target price of Rs 152. The current market price of Ashok Leyland is Rs 145.7. 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 42770.63 Crore) operating in Auto sector.

Ashok Leyland Ltd. key Products/Revenue Segments include Commercial Vehicles, Spare Parts & Others, Sale of services, Engine & Gensets, Ferrous Castings, Scrap, Export Incentives, Other Operating Revenue for the year ending 31-Mar-2022.



Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 9957.95 Crore, up 49.16 % from last quarter Total Income of Rs 6675.83 Crore and up 21.78 % from last year same quarter Total Income of Rs 8176.73 Crore. Company reported net profit after tax of Rs 155.26 Crore in latest quarter.

Investment Rationale
Buying demand at rising demand line joining lows since March and 38.2% retracement of last up move

Promoter/FII Holdings
Promoters held 51.54 per cent stake in the company as of 31-Mar-2022, while FIIs owned 13.45 per cent, DIIs 21.94 per cent.