Ashok Leyland share price to rise 40% in one year, say experts; time for you to make money? Find out
Ashok Leyland share price is showcasing a big upside swing as the auto sector is poised for some fresh buying.
Ashok Leyland share price is showcasing upside swing as the auto sector is poised for some fresh buying. According to the stock market experts, Ashok Leyland shares are looking strong from both fundamental and technical angles and it can hit Rs 112 in one year from its current Rs 80 per stock levels. They are of the opinion that the auto sector is expected to lift the equity markets and Ashok Leyland being the auto major in the share market is expected to attract a majority of investment.
Speaking on the fundamentals supporting Ashok Leyland share price, NL Raghunandhan, Research Analyst at Emkay Global said, "After the BS6 transition, AL is expected to gain market share on the adoption of midNox strategy, which provides a better cost of ownership. In LCVs, AL volumes are expected to receive a significant boost with the launch of new product Phoenix in 2.5-4.9T segments in diesel and CNG versions by Mar’20. Driven by an increase in the addressable market, LCV volumes have the potential to grow 40-60% in FY21."
See Zee Business Live TV streaming below:
On his suggestion to the share market investors in regard to the Ashok Leyland stocks, Raghunandhan said, "I recommend share market investors to buy Ashok Leyland stocks at current market price for the target of Rs 112 in one-year time horizon."
Sumeet Bagadia, Executive Director at Choice Broking said, "The Ashok Leyland share looks bullish on charts and is expected to touch Rs 88-90 per stock levels in immediate short-term. A stock market investor can buy Ashok Leyland shares for 8-10 per cent profit in the next one week."
However, Bagadia advised stock market investors to buy Ashok Leyland shares at current levels maintaining a strict stop loss at Rs 75.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.