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Ashok Leyland Shares Surge 8.2% After Record Q1 Results, Analysts Maintain Buy Ratings
Ashok Leyland Shares Surge 8.2% After Record Q1 Results, Analysts Maintain Buy Ratings
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BTCCSquare news:
Ashok Leyland shares soared 8.2% to ₹131.96, hitting a 52-week high of ₹132.80, following the commercial vehicle manufacturer's record first-quarter performance. Revenue reached an all-time Q1 high of ₹8,725 crore, with volumes hitting 44,238 units. EBITDA margins expanded 50 basis points to 11.1%, while net profit ROSE to ₹594 crore.
Brokerages remain bullish, with Bank of America setting a ₹146 target. Market share gains in medium and heavy trucks (30.7% vs. 28.9% YoY) and record light commercial vehicle sales (15,566 units) underscore operational strength. The firm maintains a cash-positive position with ₹821 crore on hand.
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