Ashok Leyland share price has strong support at Rs 105; target price pegged at Rs 125-Rs 130, says expert
Ashok Leyland share price today is Rs 115, up Rs 1.5 or 1.25%. Ashok Leyland share price is up over 4% in one week from Rs 110 to Rs 115. Sharekhan says that it has revised Ashok Leyland’s volume estimates upwards on expectation that the CV industry is ready for an upturn. Sharekhan expects Ashok Leyland’s EBITDA margin will improve aided by benefits arising from operating leverage and cost-cutting initiatives taken up by the company under ‘Project Reset’
As per the Ashok Leyland’s management, under the Project Reset, the company will focus on pricing, network profitability, supply chain de-bottlenecking, and other manufacturing overheads: Reuters