Purchase Ashok Leyland, goal worth Rs 155: Sure Securities

Yes Securities has purchase name on with a goal worth of Rs 155. The present market worth of Ashok Leyland Ltd. is Rs 141.25. Time interval given by analyst is Intra Day when Ashok Leyland worth can attain outlined goal. .

Ashok Leyland Ltd., integrated within the 12 months 1948, is a Massive Cap firm (having a market cap of Rs 41464.32 Crore) working in Auto sector.

For the quarter ended 31-03-2021, the corporate reported a Consolidated Whole Revenue of Rs 8176.73 Crore, up 36.27 % from final quarter Whole Revenue of Rs 6000.28 Crore and up 59.48 % from final 12 months identical quarter Whole Revenue of Rs 5127.11 Crore. Firm reported web revenue after tax of Rs 374.66 Crore in newest quarter.

Investment Rationale
The inventory has damaged out of an Ascending Triangle sample neckline on good volumes, triggering resumption of the uptrend. Additional, the RSI has additionally turned upwards, making increased highs and better lows, confirming bullishness.

Promoter/FII Holdings
Promoters held 51.5 per cent stake within the firm as of March 31, 2021, whereas FIIs held 18.2 per cent, DIIs 16.6 per cent and public and others 13.7 per cent.

(Disclaimer: Views and suggestions given on this part are the analysts’ personal and don’t characterize these of ETMarkets.com. Please seek the advice of your monetary adviser earlier than taking any place within the inventory/s talked about.

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