May 21, 2018 / 4:40 AM / 2 years ago

BUZZ-India's Ashok Leyland falls on lower Q4 margins

** Automaker Ashok Leyland Ltd’s shares fall as much as 6.6 pct to 138.65 rupees, their biggest daily pct loss since Feb 6

** Q4 profit jumped 40 pct to 6.67 bln rupees ($97.97 mln), beating analysts’ estimate of 6.42 bln rupees

** Credit Suisse analysts say EBITDA margin improvement was about 50 bps lower than expected, as gross margins declined despite operating leverage

** “Tata Motors’ aggression in the domestic market will mean either market share pressure or margin pressure or both” for Ashok Leyland - CS, maintaining ‘underperform’ rating with PT of 103 rupees

** Nearly 14 mln shares change hands as of 0432 GMT, vs 30-day avg volume of 14.1 mln shares

** Twenty-nine of 42 brokerages rate the stock ‘buy’ or higher, six ‘hold’ and the rest ‘sell’ or lower - TR data

$1 = 68.0800 Indian rupees

0 : 0
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