Rationale to invest: Ashok Leyland Ltd. (ALL) is one of the leading players in the Indian CV industry with a 32% market share in the MHCV segment. The company also has a strong presence in the fast-growing LCV segment. As the demand for the LCV segment is growing sharply and the MHCV segment has also started to recover. We believe that the company is ideally placed to capture the growth revival in the CV segment and will be the biggest beneficiary of the Government’s voluntary scrappage policy.
