Ashok Leyland rallies on July-Sept earnings
Reuters Market Eye - Shares in Ashok Leyland (ASOK.NS) gain as much as 6.4 percent a day after India's second-biggest bus and truck maker posted July-September earnings that were above forecasts.
IDFC upgrades Ashok Leyland to 'outperform', retaining its target price at 31 rupees, saying earnings were "significantly ahead of estimates."
IDFC says the auto maker will benefit from a cyclical upturn in the sector while Ashok Leyland shares have under-performed in the recent market rally.
Ashok Leyland shares up 5.2 percent at 25.35 rupees as of 10:20 a.m.
- Tweet this
- Share this
- Digg this
- One dead, one wounded in shooting in Chicago financial district
- Israel, Palestinians locked in vicious circle of Gaza wars
- U.S. advises against non-essential travel to countries hit by Ebola
- Millions of jellyfish-like creatures wash up on western U.S. beaches
- UPDATE 3-Apache to quit gas projects in Australia and Canada
The United States said on Thursday it was hopeful that differences between India and much of the rest of the world over a major trade agreement could be resolved in time, with only hours remaining before the deal has to be signed. Full Article
ONGC, Oil India bid $1.5 bln for stake in Murphy Oil's Malaysia assets - sources Full Article