The stock of commercial vehicles (CV) company Ashok Leyland is up 46 per cent in three months, gaining despite worries about a slowdown in sales volume. Brokerages have a mixed view on the country’s second-largest medium and heavy commercial vehicles manufacturer.
The company reported steady March quarter results and its valuation, focus on growth and medium-term prospects are positive, but some brokerages are cautious given near-term demand concerns and the risk of competition increasing in the industry.
In the March quarter, the company improved realisations by 2 per cent sequentially on the back of lower discounts and a better product