BSE Code: | NSE Code: | ISIN: | Sector:
Research Report Detail
|Report Date||Call||Price@Call||Target Price
|Current Status||Time Horizon|
|Target Hit|| Long (1Y)
Kotak downgrades Ashok Leyland to sell
Kotak has downgraded Ashok Leyland to 'sell' from 'add' for target of Rs 85/share. It says early signs of demand moderation is seen in commercial vehicles (CVs). Slowdown in domestic MHCV industry volumes are seen and it has cut earnings estimates by 11-12% over FY2017-18E and adds that freight demand in the economy is weak.