Ashok Leyland reported monthly domestic wholesales numbers by Mr. Milan Desai, Angel Broking Ltd
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Below are Quote on Ashok Leyland reported monthly domestic wholesales numbers by Mr. Milan Desai, Lead Equity Analyst, Angel Broking
Ashok Leyland reported monthly domestic wholesales numbers of 5,851 units for Jun’21, up 114% MoM. Domestic MHCV were up 56% MoM to 2364 units while domestic LCV rebounded strongly by 185% MoM to 3487 units. We believe that these are along the expected lines given the constraints. We are positive on AL as the CV cycle is yet to take off. We believe the company is well placed owing to gains in LCVs and it is benefitting from AVTR/modular trucks. We have a Buy rating on the stock.
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On the higher side, immediate resistance is seen around 36000 - 36200 levels - Angel One
