Quote on Ashok Leyland July 2021 monthly sales numbers by Mr. Jyoti Roy, Angel Broking Ltd
Below is quote on Ashok Leyland July 2021 monthly sales numbers by Mr. Jyoti Roy - DVP- Equity Strategist, Angel Broking Ltd
.Ashok Leyland reported a better than expected set of monthly sales numbers for July 2021 with total sales volumes registering a growth of 81% YoY to 8,650 units as compared to 4,776 units last year. MHCV sales registered a strong growth of 124% YoY to 3,822 units while LCV sales registered a growth of 57% YoY to 4,828 units. The Jul '21 sales numbers have come in ahead of estimates which should act as a positive catalyst for the stock. Post the Jul’21 sales numbers we continue to maintain a positive outlook on the company and maintain our BUY rating with a price target of Rs. 145.
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On the higher side, immediate resistance is seen around 36000 - 36200 levels - Angel One