Ashok Leyland shares near 52-week high, surge 61% in 2 months

Analysts expect a gradual revival by the end of FY21, led by a low base, replacement demand and pick-up in economic activity

Shares of Ashok Leyland climbed 6 per cent to Rs 83.10 on the BSE on Friday, on expectation of demand revival. The commercial vehicles maker's stock is trading close to its 52-week high level of Rs 87.50, touched on January 24, 2020. In the past two months, the stock has rallied 61 per cent, as compared to 5.3 per cent rise in the S&P BSE Sensex.

On Thursday, September 17, Ashok Leyland announced that it has received a large order from a logistics start-up company, Procure Box. The company has placed an order of 1400 intermediate commercial vehicles [ICVs]