Quote on Ashok Leyland July 2021 monthly sales numbers by Mr. Jyoti Roy, Angel Broking Ltd
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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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