The stock is up by 13 per cent from its 52-week low. Investors should keep an eye on this multibagger automobile stock.

The stock is up by 14 per cent from its 52-week low. Investors should keep an eye on this multibagger automobile stock.

The stock is up by 47 per cent from its 52-week low of Rs 157.65 per share.

Revealing the Surprising Factors Behind Ashok Leyland’s 7th Consecutive Quarter of Double-Digit EBITDA and Skyrocketing Stock Performance!

Shares of the company gained more than 30 per cent in the last six months.

This state-of-the-art facility, spread across 70 acres, will be equipped with the latest manufacturing technology

It maintained its position as the leading bus manufacturer in the country, securing orders for over 3800 buses from State Transport Undertakings during the quarter. The growing bus market is anticipated to contribute significantly to overall industry volumes.

Shares of the company gained more than 100 per cent in the last six months.

The consolidated proforma revenue soared to Rs 1120 crore, marking a substantial 19.9 per cent quarter-on-quarter growth. The net profit for Q2FY24 reached Rs 20.5 crore, showcasing jump of 22 per cent year-on-year increase from Rs 16.8 crore in Q2FY23, and a notable surge of 182.11 per cent quarter-on-quarter increase from Rs. 7.26 crore in Q2FY23.

In a strategic move, Ashok Leyland Ltd, a key player in the commercial vehicle sector, has given the green light to invest a whopping Rs 1200 crore in Switch Mobility. This massive infusion will be facilitated through its holding company, Optare PLC in the UK, underlining Ashok Leyland's commitment to embracing the electric vehicle revolution.

Net profit of the company surged significantly by 747 per cent and stood at Rs 576 crore as against to Q1FY23.

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the total number of vehicles sold in June increased by 7 per cent compared to the previous year, contributing to a 5 per cent growth in cumulative sales for the month.

The shares of the company have a PE of 32x whereas the sectoral PE is 66x with a ROE of 20 per cent.

The order is from one of the largest logistics companies in India. 

Key customers of the company include Ashok Leyland, Bajaj Auto, CNH, Hero Moto Corp, Honda Motorcycle and Scooter India, Hyundai, Mahindra & Mahindra, Maruti Suzuki, Suzuki Motorcycle, TVS Motor, Tata Motors, VE Commercial Vehicles, Yamaha Motors.  

About 60 per cent of the company’s revenue comes from the CNG business, while 40 per cent comes from industrial and speciality gases like Nitrogen, Helium, Argon, etc.

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Bajaj Auto Limited, Tata Motors Limited, Ashok Leyland, Torrent Gas, HPCL, IOCL, Safepro, Ecofuel are among the clients of the company. 

The company released an update on the exchange stating they have received multi-year orders worth Rs 420 crore, which includes an EV order for Rs 160 crore from a leading domestic OEM.

At market close on Friday, the markets ended the session on a flat note, owing to mixed global cues.  

At the day’s end, Sensex settled at 58,803.33, up by 36.74 points or 0.06 per cent whereas Nifty 50 closed at 17,539.45, down by 3.35 points or 0.02 per cent.  

At market close on Thursday, the markets plunged, owing to weak market cues, globally. Sensex settled at 58,766.59, dropping 770.48 points or 1.29 per cent while Nifty 50 closed at 17,542.80, down by 216.50 points or 1.22 per cent.   

On Friday, investors piled up the metal and IT shares, coupled with some major Sensex stocks like Reliance Industries, HDFC twins, Sun Pharma, and Bajaj Finance. The benchmark indices ended the trading session near the day's high level, closing the week on a green note. 

At 11.45 am on Thursday, the core equity indices i.e., Sensex and Nifty 50 were trading higher by 1.30 per cent each after reaching their day’s high of 1.57 per cent. This surge in their levels comes after Federal Reserve Chairman finally hiked the funds' rates by 50 basis points on Wednesday.   

Fed Chairman also made clear that it is not planning to hike the rates by 75 basis points in the upcoming meeting in June.   

On Tuesday, investors globally remained cautious and on a backfoot tracking news flow on the war of Russia-Ukraine. Indian equity benchmarks Sensex and Nifty played between gains and losses in a rough session as gains in IT and pharma stocks were countervailed by losses in financial, auto and metal shares.

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