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.
- Tweet this
- Share this
- Digg this
Trending On Reuters
Data released on Friday showing a slowdown in India's economy will put the Reserve Bank under renewed pressure to cut interest rates, while Prime Minister Narendra Modi takes his time over reforms needed for a revival. Full Article