Ashok Leyland share price to give WHOPPING 36% returns in one year; Huge money-making opportunity, say experts
Ashok Leyland share price is expected to show around 36 per cent upside movement in coming one-year post-new scrappage policy implementation, say experts.
Ashok Leyland share price has been oscillating around Rs 80-82 per stock levels and the majority of the stock experts are of the opinion that Ashok Leyland shares have strong support at Rs 78 per levels. They are of the opinion that Ashok Leyland stock price has remained above its support for a week and that shows it is likely to hold above these levels. They also say that due to the new scrappage policy that is coming soon, auto stocks are expected to skyrocket and Ashok Leyland shares would be one of the major beneficiaries of that policy. They have said that Ashok Leyland share price can go up to Rs 112 in one year from current Rs 82 levels.
Speaking on the new scrappage policy helping Ashok Leyland share price, NL Raghunandhan, Research Analyst at Emkay Global said, "We expect a gradual recovery in MHCVs from H2FY21, helped by a low base, replacement demand, better macros and the likely implementation of a scrappage policy. LCVs and Exports are expected to witness robust growth of new products and network expansion." On his suggestion to the share market investors in regard to the Ashok Leyland shares, Raghunandhan said, "We recommend share market investors to buy Ashok Leyland shares for the target of Rs 112 in one year."
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Calling Ashok Leyland shares' expected rise a huge money-making opportunity for investors, Chandan Taparia, Derivative & Technical Analyst at Motilal Oswal said, "Ashok Leyland is a good share to buy at current levels. In the immediate short-term, the Ashok Leyland share price may showcase Rs 90 per stock level. In my opinion, one should buy Ashok Leyland shares at current levels for the target of Rs 90 in immediate short-term time horizon." But, he strictly advised share market investors to maintain the stop loss at Rs 76 while taking a buy position in Ashok Leyland shares.
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