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Rajesh Bhosale’s 2 top trading ideas: TCS & Ashok Leyland
Economic Times
·
4d ago
Medial
Rajesh Bhosale, Technical Analyst at Angel One, recommends buying Tata Consultancy Services (TCS) and Ashok Leyland. TCS is expected to rebound from multi-year support levels with a target of Rs 3,100. Ashok Leyland is showing a bullish reversal pattern, targeting Rs 130. The market is at a critical juncture, with Nifty and Bank Nifty at key support levels, indicating potential rebounds. Buying opportunities exist, particularly in the auto sector.
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Ashok Leyland invests ₹25 cr to buy 50% in TVS Trucks & Buses
Thehindubusinessline
·
1y ago
Medial
Ashok Leyland has acquired a 50% stake in TVS Trucks and Buses for ₹25 crore. TVS Trucks is an automotive dealership company in India. Through this investment, Ashok Leyland aims to enhance its automotive business. Following the allotment by the Board of Directors of TVS Trucks, Ashok Leyland's shareholding in the company stands at 49.9%, making it an associate company.
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Ashok Leyland appoints KM Balaji as chief financial officer
Money Control
·
1y ago
Medial
Commercial vehicle manufacturer Ashok Leyland has announced the appointment of KM Balaji as its Chief Financial Officer (CFO), effective from June 1, 2024. Balaji has been with Ashok Leyland for 31 years, serving as the Deputy CFO. Gopal Mahadevan, the current CFO, will transition to the role of Director of Strategic Finance and M&A. The move comes as Ashok Leyland reported a 16.73% increase in net profit to INR 933.69 crore for the fourth quarter of FY2023-24, driven by strong demand for its products in the light and medium commercial vehicle segments.
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Ashok Leyland invests further ₹537 cr in electric vehicle arm Switch Mobility
Thehindubusinessline
·
1y ago
Medial
Ashok Leyland has invested an additional ₹537 crore in Switch Mobility, its electric vehicle arm. The investment was made in Optare Plc, the holding company of Switch Mobility Ltd and Switch Mobility Automotive Ltd, through equity shares. Ashok Leyland's shareholding in Optare Plc has increased to 92.59%. Ashok Leyland had previously invested ₹662.5 crore in Optare Plc in December 2023. Optare Plc reported a total revenue of ₹230 crore in FY23.
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Ashok Leyland, Narayana Hrudayalaya & Paisalo Digital: 3 short-term stock trading ideas
Business Today
·
5m ago
Medial
Choice Broking notes that Ashok Leyland is nearing a breakout from a falling channel on the weekly chart, with consolidation around resistance levels and significant volume suggesting buying interest. Meanwhile, Narayana Hrudayalaya is trading near its life high despite market adversity, showcasing relative strength, according to an analyst from Anand Rathi.
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We will not sacrifice profitability for market share: Shenu Agarwal, MD and CEO, Ashok Leyland
Money Control
·
9m ago
Medial
Ashok Leyland, the second largest commercial vehicle maker in India and fourth largest globally, is known for its innovation. Shenu Agarwal, the company's leader, believes that the recent slowdown in the industry is just a temporary setback. With a rich history spanning 75 years, Ashok Leyland is part of the Hinduja group and continues to make strides in the corporate sector, particularly in the automobile industry.
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Hinduja Group eyes strategic investments in EVs, energy and banking in Uttar Pradesh
Economic Times
·
23d ago
Medial
Hinduja Group is exploring strategic investments in electric vehicles (EVs), renewable energy, and banking in Uttar Pradesh. During a high-level meeting, group companies like IndusInd Bank, Gulf Oil, and Ashok Leyland presented investment plans. Ashok Leyland is finalizing an EV bus facility, while Gulf Oil proposes a robust EV charging network. The initiative aligns with Uttar Pradesh's economic aspirations, including becoming a USD 1 trillion economy. IndusInd Bank and NXTDIGITAL emphasized expanding digital and financial services in the region.
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Chiratae-backed Minus Zero to develop self-driving trucks with Ashok Leyland
VCCircle
·
1y ago
Medial
Indian automaker Ashok Leyland has announced a partnership with Minus Zero, a technology startup backed by Chiratae Ventures, to develop self-driving trucks. The initial focus will be on developing autonomous trucks for ports, factories, and corporate campuses. Minus Zero plans to expand its offerings to include hub-to-hub applications and long-haul trucking, pending regulatory frameworks. The timeline and financial terms of the partnership were not disclosed. Ashok Leyland had previously partnered with Aidrivers to produce electric terminal trucks for the port industry.
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Oversold indicators suggest further rally
Money Control
·
11m ago
Medial
The stock market in India saw a recovery last week, following strong performances in global markets. The US markets experienced their largest weekly gains of the year, with retail stocks leading the rally. European markets also recorded gains, driven by expectations of interest rate cuts. In Japan, the Nikkei 225 performed particularly well. In terms of technical analysis, oversold indicators suggest a potential market recovery in India. The IT sector showed strength and momentum, while mid- and small-cap stocks underperformed. Recommended stocks to watch include TCS, Sun Pharma, and Ashok Leyland.
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Ashok Leyland hits 3-millionth production milestone
Thehindubusinessline
·
1y ago
Medial
Indian commercial vehicle manufacturer Ashok Leyland has reached a production milestone with the rollout of its three millionth vehicle from its Pantnagar facility in Uttarakhand. The company's Chief Operating Officer, Ganesh Mani, attributed the achievement to the collaborative efforts of various teams and partners, including suppliers and technology providers. Ashok Leyland, which is the second-largest commercial vehicle manufacturer in India, operates seven manufacturing plants in the country and has facilities in the UAE and the UK. The company is the world's fourth-largest manufacturer and 19th largest truck maker globally.
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Tata Motors, Maruti, M&M, Hyundai shares: Fresh price targets amid auto sector underperformance
Business Today
·
5m ago
Medial
Analysts from InCred Equities favor Hero MotoCorp as the top OEM for its valuation, followed by Maruti Suzuki and Ashok Leyland due to expected volume recovery. Tata Motors and TVS Motor are among the reduce-rated stocks, while Bharat Forge and Balkrishna Industries receive an add rating. Bajaj Auto is upgraded, alongside Samvardhana Motherson in the component sector. Despite some optimizations, the general stance on the auto sector remains neutral.
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