Ashok Leyland share price to rise 25%; experts say 'money-making opportunity' that you shouldn't miss
Ashok Leyland share price may rise up to Rs 100 from current Rs 80 per stock levels, say stock market experts.
Ashok Leyland's Q3FY20 operating results have been in line with the stock market experts and they are of the opinion that in the long-term say one year, the stock price may rise up to Rs 100 to 105 per stock levels from current Rs 80 per stock levels. Looking at the technical chart of Ashok Leyland shares, the auto stock has made it's low of Rs 78 on February 3rd while in this one month period Ashok Leyland stock price made a high of Rs 86.60 on 21st January. On the basis of that stock market experts are of the opinion that Ashok Leyland stock has strong support at Rs 78 levels and one should maintain the stop loss of Rs 2 below Rs 78 means at Rs 76 while taking buy position for the target of Rs 100.
Speaking on the Ashok Leyland share price fundamentals Amyn Pirani, Lead Analyst at Yes Securities said, "Ashok Leyland’s 3QFY20 operating results were in line with our forecasts but lower than consensus. EBITDA margin came at 5.6 per cent (-470bps YoY, in line YSEC). The key positive in the result was robust cost control in employee and other operating costs (-35 per cent YoY). Ashok Leyland’s had taken aggressive production shutdowns during the third quarter and that is reflected in the lower expenditure." On his suggestion to the share market investors in regard to the Ashok Leyland share price, Pirani said that one can buy the Ashok Leyland counter at current levels for the target of Rs 100 in the long-term citing, "Maintain Buy with a target price of Rs 100."
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Calling Ashok Leyland a money-making opportunity recommending the auto stock share to buy, 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." Ashok Leyland is currently trading at Rs 80 — a level that Chandan Tapariya has suggested to buy Ashok Leyland. 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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