13 Nov , 2025 By : Debdeep Gupta
Ashok Leyland shares rose sharply on Thursday, gaining as much as 5.5 percent to hit a day’s high of Rs 150.49 in the morning trade. At 10 am the stock was trading at Rs 147.88, up 3.75 percent from the previous close.
Ashok Leyland stock has now advanced 36 percent in the past year. Today's jump in the stock comes a day after the commercial vehicle maker posted a mixed set of July-September quarter results, marked by steady operational performance and stable profitability despite one-time charges.
The company reported a 9.3 percent year-on-year rise in revenue to Rs 9,588 crore, broadly in line with expectations, supported by healthy volume growth across segments. However, net profit was flat at Rs 771 crore due to a Rs 40-crore one-time loss, compared with a one-time gain in the base quarter. EBITDA grew 14.2 percent YoY to Rs 1,162 crore, marking the eleventh straight quarter of double-digit expansion, while EBITDA margin improved to 12 percent.
Ashok Leyland brokerage views: Buy or Sell? Check target prices
Brokerages maintained a broadly constructive stance on Ashok Leyland stock following the results.
* Nomura retained its ‘Buy’ rating on Ashok Leyland stock with a target price of Rs 174 per share, citing a “smooth ride ahead” with a stronger upcycle potential. The brokerage firm said that the automobiles major's margins have a potential to climb to mid-teens over the next two years.
* Morgan Stanley kept an ‘Overweight’ call with a target of Rs 160, saying that Q2 was broadly in line. It noted that the company’s strong margin profile was supported by rising non-truck revenues. The brokerage also pointed to management’s guidance of stronger growth in the second half of the year.
* HSBC remained cautious with a ‘Hold’ rating and a target of Rs 145 per share, saying that Ashok Leyland is expected to move in line with the domestic commercial vehicle industry growth of 5-6 percent CAGR over FY25-28. It added that valuations are not undemanding at around 12x FY27 EV/EBITDA.
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