Stock market analyst PK Agarwal of Purpleline Investment has maintained buy rating on Ashok Leyland Limited stock with an intraday target of Rs 85.

The interested investors can buy the stock with stop loss of Rs 78.

The stock of the company, on Nov 10, closed at Rs 79.50 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 81.90 and a low of Rs 46.80 on BSE.

Current EPS & P/E ratio stood at 4.65 and 17.24 respectively.

Ashok Leyland today has joined hands with Himachal Gramin Bank with the aim to offer up clients with finance options for purchasing commercial vehicles.

Ashok Leyland and Himachal Gramin Bank (HGB) inked a MoU in Mandi, Himachal Pradesh that provides Ashok Leyland's clients very attractive conditions for funding commercial vehicles.

Ashok Leyland Head (Sales Financing) Srinivasan Anand stated, "Ashok Leyland's competitively priced, state-of-the art product range designed to suit specific applications, provides our customers a winning solution to their transportation needs."

The company recorded an increase of 7.48% in its commercial vehicle sales, which stood at 5,732 units during the last month as against the corresponding period of 2009.

Company's domestic sales remained down by 6.20% at 4,628 units during the last month as compared to 4,934 units during the same month of 2009.

Exports rose nearly three-fold to 1,104 units during October as compared to 399 units in October 2009.