#AngelOne Recommendation Company: Ashok Leyland Rating: Buy T | Angel One

#AngelOne Recommendation

Company: Ashok Leyland
Rating: Buy
Target price: 164
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. While demand for the LCV segment has been growing smartly post the pandemic, demand for the MHCV segment has also started to recover over the past few months. 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.