Stock To Buy : If you are thinking of betting on some quality shares, then there is useful news for you. Market experts have recommended buying shares of bus manufacturing company Ashok Leyland Ltd. According to experts, the price of this stock will increase in the coming days and it can reach ₹ 284. Let us tell you that today on Monday, during trading, Ashok Leyland shares climbed up to 5% and reached an intraday high of Rs 258.85.

What the brokerage said

Brokerage firm LKP has said about this stock that buses will grow at a strong pace in this sector due to EV demand. The Government of India's continued emphasis on capital expenditure and strong infrastructure outlay will ensure MHCV leads the comeback. Also, due to improving margin profile, we maintain buy with an increased target price of ₹ 284.

June quarter results

The consolidated net profit of Hinduja Group's flagship company Ashok Leyland has declined by six percent year-on-year to Rs 509 crore in the first April-June quarter of the current financial year. In the same quarter of the last financial year, the company had earned a net profit of Rs 544 crore. Ashok Leyland said in a stock exchange information last Thursday that its total income in the June quarter increased to Rs 10,754 crore, from Rs 9,735 crore in the same quarter last year. Ashok Leyland Chairman Dheeraj Hinduja said that the growth momentum of the commercial vehicle segment is expected to continue. He said, "The company's first-quarter performance has exceeded all expectations and we have managed to deliver excellent results."