Stock market analyst Ashish Chaturmotha of Anand Rathi Securities has maintained 'buy' rating on Ashok Leyland Ltd stock with target of Rs 82-84.

According to analyst, the interested investors can buy the stock with strict stop loss of Rs 72.

The stock of the company, on Sep 01, closed at Rs 74.60 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 75.45 and a low of Rs 39 on BSE.

Current EPS & P/E ratio stood at 4.06 and 18.48 respectively.

Ashok Leyland has pocketed Rs 120 crore contract from the People's Leasing Company in Sri Lanka.

The scope of the order includes 1000 Viking model buses with a seating capacitance of 42-58 seaters.

As per reports, Ashok Lelyand will begin selling the buses from now onwards and the closing date is March next year.

Moreover, Ashok leyland inked a deal with IndusInd Bank to offer up financing facility to its dealers.

In a declaration, the company stated, "The dealers of Ashok Leyland will now have access to ready upstream finance from IndusInd Bank to meet their working capital requirements in addition to the existing retail finance arrangements."

This affiliation is a branch of the planned focus of IndusInd Bank in creating the supply chain biz.