Ashok Leyland hits 52-wk high on demand recovery hope; stk up 73% in 3 mths

M&HCV demand and inquiries have slowly started returning as operators have started paying EMIs post moratorium, eventually leading to the ease of financing

Shares of Ashok Leyland hit a 52-week high of Rs 89.45, surging 6 per cent on the BSE on Tuesday, on expectation that the domestic truck and light commercial vehicle (LCV) sector recovery may continue to gather pace over the second half (October-March) of the current fiscal. The stock of the commercial vehicle company has outperformed the market in the past three months by surging 73 per cent, as against 13 per cent rise in the S&P BSE Sensex.

Following the successful launch of its Modular Platform AVTR, the company has launched Bada Dost in the Phoenix Platform in the LCV