Technical analyst Anil Singhvi has maintained 'buy' rating on Ashok Leyland Limited stock with an intra-day target of Rs 71.

According to analyst, the investors can buy the stock with a stop loss of Rs 65.

The stock of the company, on December 21, closed at Rs 65.95 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 14.39 respectively.

Ashok Leyland has launched its new construction facility in UAE, which was established as a JV between the Hinduja group firm and the Ras Al Khaimah Investment Authority.

The $50 million novel division will serve markets in the Gulf Cooperation Council, Africa and Europe.

The new plant was kicked off by Sheikh Saud Bin Al Qasimi, Supreme Council member and ruler of Ras Al Khaimah.

At first, the plant will have a yearly capacity of 2,000 buses and trucks.

The overall investment in the novel facility will be $50 million, out of which $20 million has been already invested.

On Dec 13, Ashok Leyland bagged an over Rs 125 crore deal from VRL Logistics in order to supply 600 vehicles, deliveries of which will start in a month.

The company said, "The order is cumulatively worth in excess of Rs 125 crore, deliveries against which are expected to commence in a month's time."