Buy Ashok Leyland With Stop Loss Of Rs 61

Buy Ashok Leyland With Stop Loss Of Rs 61Stock market analyst Sudarshan Sukhani has maintained 'buy' rating on Ashok Leyland Ltd stock to achieve an intra-day target of Rs 65.

According to analyst, the investors can sell the stock with stop loss of Rs 61.

The shares of the company, on June 17, closed at Rs 61.95 the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 70.35 and a low of Rs 28.40 on BSE. Current EPS and P/E ratio of the stock stood at 3.21 & 19.48 respectively.

The joint venture between Ashok Leyland and Nissan is fortifying as both the companies have decided to make a van.

V Sumantran, the executive vice chairman of Hinduja Automotive who also serves as the chairman for Nissan Ashok Leyland Powertrain stated that the new van NV200 will be launched for both passenger variant and goods carrier variant.

Moreover, Palmer, Nissan Motor's senior vice president said that as Ashok Leyland has proficiency in commercial vehicles, they will provide the good carrier whereas Nissan will provide the passenger van.

During May 2010, Ashok Leyland recorded 229% increase in its total sales, which stood at 6,502 units as against 1,977 units sold in the same period of last year.

The company's domestic sales increased 251.97% to 5,973 units for May 2010.

Moreover, the company's exports in May 2010 surged 88.92% to 529 units in May 2010 as against 280 units in the year-ago period.