The gains for the country's second-largest commercial vehicle (CV) maker were on the back of expectations of strong demand, a slew of launches and brokerage upgrades.
The stock of the CV major, which was up 33 per cent over the last three months, ended the day at ₹246.35, up 6 per cent.
On Thursday, UBS Securities upgraded Ashok Leyland from 'neutral' to 'buy' considering the resilience in MHCV demand, a strong pricing environment and favourable valuation, as it is trading in line with the past five-year mean while most automakers are trading around three standard deviations above mean.
The company continued to witness strong demand in its business units in Q1FY25. While the company achieved its highest ever first quarter CV volumes, the power solutions, aftermarket, defence business and the international operations also contributed to the top line. The efforts on product and network expansion helped the uptick in revenue and market share, the company said.
Bu hikaye Business Standard dergisinin July 27, 2024 sayısından alınmıştır.
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Bu hikaye Business Standard dergisinin July 27, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
FY25 as weak-earnings year is gradually getting priced in
Even as many blame record foreign portfolio outflows for the market downturn, the real culprit is weak earnings amid rich valuations, says GAUTAM CHHAOCHHARIA, head of global markets, India, UBS. In an interview with Samie Modak in Mumbai ahead of the UBS India Summit, Chhaochharia highlights that 2024-25 (FY25) weak earnings growth is now factoring into market expectations. Investors are shifting their focus to the actions of the Reserve Bank of India (RBI) and the central government, as well as the outcome of upcoming state elections. Edited excerpts:
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