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Buy Ashok Leyland, price target Rs 84: Nirav Chheda

The analyst suggested a stoploss at Rs 75.

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Updated: Dec 13, 2019, 10.03 AM IST
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Ashok Leyland Ltd., incorporated in the year 1948, is a Large Cap company (having a market cap of Rs 23043.89 Crore) operating in Auto sector.
Nirav Chheda of Nirmal Bang Securities has a buy call on Ashok Leyland Ltd. with a target price of Rs 84.0 . The current price of Ashok Leyland Ltd. is Rs 80.35 . Nirav Chheda recommended to keep a stoploss at Rs 75 .

Ashok Leyland Ltd., incorporated in the year 1948, is a Large Cap company (having a market cap of Rs 23043.89 Crore) operating in Auto sector.

Ashok Leyland Ltd. key Products/Revenue Segments include Commercial Vehicles which contributed Rs 25307.78 Crore to Sales Value (85.95 % of Total Sales), Spare Parts & Others which contributed Rs 1880.47 Crore to Sales Value (6.38 % of Total Sales), Sale of services which contributed Rs 830.30 Crore to Sales Value (2.81 % of Total Sales), Ferrous Castings which contributed Rs 516.38 Crore to Sales Value (1.75 % of Total Sales), Engine & Gensets which contributed Rs 468.04 Crore to Sales Value (1.58 % of Total Sales), Other Operating Revenue which contributed Rs 257.16 Crore to Sales Value (0.87 % of Total Sales), Scrap which contributed Rs 122.60 Crore to Sales Value (0.41 % of Total Sales) and Export Incentives which contributed Rs 61.16 Crore to Sales Value (0.20 % of Total Sales)for the year ending 31-Mar-2019.

For the quarter ended 30-09-2019, the company has reported a Consolidated sales of Rs 5033.06 Crore, down -22.74 % from last quarter Sales of Rs 6514.73 Crore and down -41.16 % from last year same quarter Sales of Rs 8553.68 Crore Company has reported net profit after tax of Rs 69.71 Crore in latest quarter.

The company’s top management includes Dr.Andreas H Biagosch, Dr.Andrew C Palmer, Mr.Dheeraj G Hinduja, Mr.Gopal Mahadevan, Mr.Jean Brunol, Mr.Jose Maria Alapont, Mr.Manisha Girotra, Mr.R J Shahaney, Mr.Sanjay K Asher, Mr.Saugata Gupta. Company has Price Waterhouse & Co Chartered Accountants LLP as its auditoRs As on 30-09-2019, the company has a total of 2,935,527,276 shares outstanding.

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