India's Ashok Leyland beats Q1 estimates; brokerages raise PT

Ashok Leyland

18/08/2025 05:14

** Ashok Leyland ASOK.NS rises 4.4% to 127 rupees; marks biggest intraday pct gain since February 17

** Stocks hits highest since July 15; among top pct gainer on Nifty Auto Index .NIFTYAUTO, which is up 3.3%

** Truck and bus maker reports bigger-than-expected first-quarter profit as margins improve

** Multiple brokerages say Q1 results in line with estimates

** Nomura maintains "buy"; raises PT to 144 rupees from 135 rupees, implying 18% upside from last close

** UBS maintains "buy"; raises PT to 150 rupees from 147.5, implying 23% upside from last close

** J.P. Morgan maintains "neutral"; says volume recovery necessary for re-rating

** Raises PT to 135 rupees from 122 rupees, implying 10.7% upside from last close

** YTD, ASOK gains 15.3% vs NIFTYAUTO's 9.2% rise

 (Reporting by Rudra Pratap Singh in Bengaluru)

 ((rudrapratap.singh@thomsonreuters.com))