The Economic Times News

Nomura sees Ashok Leyland as key beneficiary of CV upcycle, sets target at Rs 196. Stock up 2%

Ashok Leyland shares hit a fresh 52-week high after Nomura reaffirmed its Buy rating and raised optimism around the commercial vehicle upcycle. The brokerage sees the company as a key beneficiary of improving CV demand, stronger volume growth and margin tailwinds, setting a target price of Rs 196 with healthy upside.