Ashok Leyland shares surged by over 3% after Nomura maintained its ‘Buy’ rating, setting a target price of ₹247 per share.
Nomura’s latest analysis highlights Ashok Leyland’s robust margins, attributing them to the company’s stringent pricing discipline. Despite the prevailing softness in the commercial vehicle (CV) sector, Ashok Leyland has managed to sustain its profitability, underscoring effective cost management and strategic pricing strategies.
As of 11:30 am, Ashok Leyland shares were trading 3.20% higher at Rs 229.00 on the NSE.
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