Buy Ashok Leyland With Target Of Rs 77.50

Buy Ashok Leyland With Target Of Rs 77.50Stock market analyst Salil Sharma has maintained 'buy' rating on Ashok Leyland Ltd stock with a target of Rs 77.50.

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

The stock of the company, on Oct 07, closed at Rs 73.90 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 79 and a low of Rs 40 on BSE.

Current EPS & P/E ratio stood at 4.06 and 18.52 respectively.

Ashok Leyland Ltd has increased the prices of its vehicles by 3% (across all models).

Moreover, the company is also raising the costs by another 3% in order to meet up the BS IV emission standards and overall the effectual price would be in the range of Rs 60,000.

As per reports, this is the third price rise by Ashok Leyland as it had raised the rates in April (1.5%), accompanied by 2.5% in July.

Ashok Leyland has recorded an increase of 90.2% jump in its commercial vehicle sales, which stood at 10,363 units during the last month as compared to 54,48 units sold in September 2009.

The company said its domestic sales rose 97.8% to 9,513 units as against 4,809 units during the corresponding period of 2009.

Exports grew by 33% to 850 units as against 639 units.