Ashok Leyland Shares Drop As Credit Suisse Downgrades Rating, | STOCK OPTIONS
Ashok Leyland Shares Drop As Credit Suisse Downgrades Rating, Cuts Target
Shares of Ashok Leyland Ltd. fell the most in nearly two months after Credit Suisse downgraded the automaker, citing poor recovery of commercial vehicle sales. The Swiss research firm lowered its rating on the stock to ‘neutral’ from ‘outperform’, and cut its 12-month target price to Rs 114 from Rs 161, implying a 6% downside from Thursday's closing price.
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