Shares in Ashok Leyland gained almost 5%, after a good set of quarterly numbers. Analysts cited significantly lower operating costs and healthy realisations growth aided the Q4 earnings. Most analyst see a cyclical recovery in and new launches in CNGs and volume recovery in bus segments to drive the company's growth.
The shares of the company were last seen trading at Rs 128.85, with a jump of 4.88%. An economic recovery may lead to good performance for the company going ahead.
Ashok Leyland is the second-largest manufacturer of commercial vehicles in India, the third-largest manufacturer of buses in the world, and the tenth-largest manufacturers of trucks.