60% return in 1 year: Ashok Leyland shares hit 52-week high - Buy, Sell or Hold? Here's what brokerages suggest

Ashok Leyland Share Price Target NSE, BSE: Shares of Chennai-headquartered Ashok Leyland, which produces a range of commercial vehicles such as buses and trucks, hit a fresh 52-week high amid a surge in benchmark equity indices Sensex and Nifty. The counter opened with a gain of 4.91 per cent from the previous close of Rs 224 on the BSE. It further gained to hit a 52-week high of Rs 236.35. The scrip of Ashok Leyland, which has a market cap of Rs 69,006 crore, has a 52-week low of Rs 144.50.

Ashok Leyland share price history

The counter has given a positive return of around 60 per cent in one year and 67 per cent in two years. The srcip has given a multibagger return of 155 per cent in five years and 601 per cent in 10 years. 

Ashok Leyland Share Price Target 

Several brokerage firms are bullish on the stock of Ashok Leyland. Goldman Sachs, CITI, and CLSA have maintained a buy call on Ashok Leyland. While Goldman Sachs and CITI have raised the individual targets by Rs 30 to Rs 260 and Rs 245, respectively, brokerage house CLSA has raised the target to Rs 258 per share from Rs 238 earlier.

Meanwhile, the commercial vehicle maker has reported a 12 per cent increase in total wholesales at 14,682 units in May. In the year-ago period, the company posted total wholesales of 13,134 units.

Domestic sales increased 12 per cent to 13,852 units last month as compared to 12,378 units in May 2023, Ashok Leyland said in a statement.

Sales of medium and heavy commercial vehicles in the domestic market were 13 per cent higher at 8,551 units as against 7,590 units a year ago, it added.

Light commercial vehicle sales rose 11 per cent to 5,301 units last month from 4,788 units in the same month last year.