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Ashok Leyland begins commercial production of Dost
Ashok Leyland (ALL) has begun commercial production and sales of Dost, its first product
in the light commercial vehicle segment. The vehicle has been produced jointly by Ashok
Leyland and Nissan and has a payload capacity of 1.25tonnes. Dost is available in three
versions, with the top-end version featuring air-conditioning, power steering and fabric
seats. Dost will be initially sold in the southern part of the country through 40 dealers
and is aggressively priced at `3.79 – 4.39 lakhs (ex-showroom, Chennai).
We expect ALL to see a revival in its LCV sales going ahead. Dost will be benefitted by the
strong growth traction in the LCV segment as sales in the segment are unaffected by the
current macro-economic environment. At `25, ALL is trading at attractive valuations of
8.9x FY2013E earnings. We maintain Buy on the stock with a target price of `31.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Ashok Leyland begins commercial production of Dost
Ashok Leyland (ALL) has begun commercial production and sales of Dost, its first product
in the light commercial vehicle segment. The vehicle has been produced jointly by Ashok
Leyland and Nissan and has a payload capacity of 1.25tonnes. Dost is available in three
versions, with the top-end version featuring air-conditioning, power steering and fabric
seats. Dost will be initially sold in the southern part of the country through 40 dealers
and is aggressively priced at `3.79 – 4.39 lakhs (ex-showroom, Chennai).
We expect ALL to see a revival in its LCV sales going ahead. Dost will be benefitted by the
strong growth traction in the LCV segment as sales in the segment are unaffected by the
current macro-economic environment. At `25, ALL is trading at attractive valuations of
8.9x FY2013E earnings. We maintain Buy on the stock with a target price of `31.
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