Buy Ashok Leyland, target Rs 93.0 : Pritesh Mehta

Pritesh Mehta of IIFL has a buy call on Ashok Leyland Ltd. with a target price of Rs 93.0 .The current market price of Ashok Leyland Ltd. is Rs 87.35. The time period given by the analyst is Intra Day when Ashok Leyland Ltd. price can reach defined target. Pritesh Mehta recommended to keep stop loss at Rs 86.0 .

Ashok Leyland Ltd., incorporated in the year 1948, is a largecap company (having a market cap of ₹ 24986.80 Cr.) operating in Auto sector.

Ashok Leyland Ltd. key Products/Revenue Segments include Commercial Vehicles which contributed ₹ 18207.97 Cr to Sales Value (89.63 % of Total Sales), Spare Parts & Others which contributed ₹ 1289.65 Cr to Sales Value (6.34 % of Total Sales), Engine & Gensets which contributed ₹ 414.89 Cr to Sales Value (2.04 % of Total Sales), Other Services which contributed ₹ 156.02 Cr to Sales Value (0.76 % of Total Sales), Other Operating Revenue which contributed ₹ 101.22 Cr to Sales Value (0.49 % of Total Sales), Scrap which contributed ₹ 76.15 Cr to Sales Value (0.37 % of Total Sales) and Export Incentives which contributed ₹ 67.15 Cr to Sales Value (0.33 % of Total Sales)for the year ending 31-Mar-2016.

For the quarter ended 31-12-2016, the company has reported a Standalone sales of ₹ 4335.15 Cr., down -3.73% from last quarter Sales of ₹ 4503.17 Cr. and up 7.59% from last year same quarter Sales of ₹ 4029.46 Cr. Company has reported net profit after tax of ₹ 185.88 Cr. in latest quarter. The company’s CEO is Mr.Vinod K Dasari. It's Board of Directors include Dr.Seshu Bhagavathula, Mr.Gopal Mahadevan, Mr.N Ramanathan, Dr.Andreas H Biagosch, Dr.Andrew C Palmer, Mr.A K Das, Mr.D L Balaji Rao, Mr.Dheeraj G Hinduja, Mr.Jean Brunol, Mr.Jose Maria Alapont, Mr.Manisha Girotra, Mr.R J Shahaney, Mr.Sanjay K Asher, Mr.Shardul S Shroff, Mr.Sudhindar K Khanna, Mr.Vinod K Dasari, Mr.N Ramanathan. Company has its registered office at No. 1, Sardar Patel Road,, Guindy, Chennai (Madras), 600032, Tamil Nadu. Company has Price Waterhouse & Co LLP as its auditors. As on 31-03-2017, the company has a total of 2,493,630,994 shares outstanding.