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Saturday, Sep 16, 2006

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Ashok Leyland turns active

The stock of Ashok Leyland Ltd (ALL) appreciated by almost 11.5 per cent month-on-month only to close at Rs 41.85 on the BSE on Friday. Apart from improved fundamentals, expectations of a strategic partner being inducted vis--vis the fact that the Hinduja Group has a large controlling stake in the company now, has been driving interest in this counter. This is expected to benefit the company in terms of better access to technology etc.

While industry growth for M&HCV growth is pegged at 15-16 per cent, analysts expect Ashok Leyland's volume growth to be around 16 per cent for FY-07 and 11 per cent for FY-08.

Marketmen said that ALLs recent acquisition and its entry into the LCV space is expected to provide incremental volume growth.

Deeptha Rajkumar

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