Ashok Leyland Share Price: Stocks to give up to 25% returns in 1 month - Check experts' take
Ashok Leyland share price is expected to rise up to Rs 105 per stock levels in one month, say stock market experts.
Ashok Leyland share price has shot from Rs 79.90 per stock levels to Rs 86.60 per stock levels in the last one month. According to stock market experts, Ashok Leyland share price can hit Rs 105 per stock levels in one month's time as the new scrappage policy of the government is expected to fuel auto sales numbers of Ashok Leyland. They are of the opinion that Ashok Leyland may undergo some correction by 2-3 rupees and that would be the most appropriate level to take a buy position in the Ashok Leyland stocks maintaining the stop loss at Rs 79.
Elaborating upon the reason for the trigger in the Ashok Leyland stock price Prakash Pandey, MD & CEO at Plutus Advisors said, "Ashok Leyland is an auto counter and after the new scrappage policy announced by the government, Ashok Leyland sales are expected to pick up in coming days. The recent rise in Ashok Leyland stocks can be attributed to this reason and in the next one month, I am expecting Ashok Leyland shares to hit Rs 105 levels." However, he advised stock market investors to maintain the stop loss at Rs 79.
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Calling Ashok Leyland a share to buy, Chandan Taparia, Derivative & Technical Analyst at Motilal Oswal said, "Ashok Leyland is a good share to buy. In the immediate short-term, the Ashok Leyland shares may showcase Rs 90 per stock level. However, I would advise share market investors to wait for some correction as it has strong support at Rs 81.50. In my opinion, one should buy Ashok Leyland shares at around Rs 83 per stock levels for the target of Rs 90 in immediate short-term time horizon."
Highlighting the deviation in Ashok Leyland that stock market investors may witness Prakash Pandey said, "Ashok Leyland share price will scale up to Rs 94 to Rs 95 per stock levels in immediate short-term and after sustaining above Rs 95 levels, it would soon surge up to Rs 105."
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