Stock Market today: Ashok Leyland Share price gained more than 6% in morning trades on Friday to 52 week highs.
Ashok Leyland share price that opened at ₹235.10 on Friday on the NSE, slightly higher than previous close of ₹232.43 , however gained further steam thereafter. Ashok Leyland share price touched 52-week highs of ₹248.20 marking intraday gains of more than 6%.
Ashok Leyland had declared Q1 financial performance on Thursday. UBS Research has upgraded the stock fueling gains for the Ashok Leyland share price.
UBS Research in its report dated 25 July said that “We upgrade Ashok Leyland from Neutral to Buy considering the resilience in MHCV (Medium and Heavy Commercial Vehicles) demand, a strong pricing environment and favorable valuation. As per UBS Research Ashok Leyland share price it is trading in line with the past five-year mean while most OEMs (original equipment manufacturers) are trading at valuations that are around 3SD (standard deviation) above.
