Ashok Leyland extends rally on strong earnings
Reuters Market Eye - Ashok Leyland(ASOK.NS) gains 4.8 percent, advancing for a fourth consecutive session as India's second-biggest bus and truck maker continues to benefit after beating estimates with its July-September earnings last week.
Bank of America-Merrill Lynch raised the stock rating to 'buy' from 'underperform' and its price objective to 32 rupees from 23 rupees in a note dated November 12 after stronger-than-expected Q2 results.
Ashok Leyland shares had gained 12 percent over the previous three trading sessions.
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India could run out of a critical medicine in its free HIV/AIDS drugs programme in three weeks due to bureaucratic bungling, a senior government official said, leaving more than 150,000 sufferers without life-saving drugs for about a month. Full Article