Quarterly Results

Ashok Leyland and TVS Motor Company hit their respective all-time highs, while, M&M was close to its record high level

The brokerage believes Ashok Leyland is poised to be a major beneficiary of India's ongoing commercial vehicle (CV) upcycle, helped by firming domestic demand, rising exports

Among others - Ashok Leyland, India Cements, Laurus Labs, Federal Bank, Shriram Finance, Hindalco, Vedanta and NALCO shares were also trading at life-time highs in Monday's trading session.

At 2:24 PM, with ₹1.01 trillion market cap, Ashok Leyland was quoting 3 per cent higher at ₹171.15 on the BSE, the exchange data showed

In the past six months, the stock price of Ashok Leyland rallied 42 per cent, as against 3.7 per cent rise in the BSE Sensex and 17 per cent surge in the BSE Auto index.

Brokerages remain positive on the long-term prospects of Ashok Leyland, factoring in a gradual recovery in the MHCV industry momentum and segmental diversification.

The BSE Auto index, up 18% thus far in the calendar year 2025, is set to outperform the BSE Sensex for the fourth straight calendar year.

With GST rationalisation & pick up in government capex, CV volumes are likely to improve going forward (expectations of positive YoY growth in FY26), according to ICICI Securities.

At the bourses, meanwhile, Nifty India Manufacturing index, which has outperformed the market by surging 26 per cent in the past nine months

Strong order books keep automakers driving past slowdown fears