Please Share:: 
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Auto numbers: Ashok Leyland – August 2011
Ashok Leyland (ALL) reported weak set of volume data for August 2011, registering a
decline of 3.5% yoy (7.9% mom) to 7,218 units. Total volume performance was lower than
expected and can be attributed to weakness in the overall product portfolio. M&HCV
passenger vehicle volumes declined by 6.9% yoy (9.9% mom), while M&HCV goods vehicle
volumes fell by 2.6% yoy (7.4% mom). Overall, domestic M&HCV vehicle volumes declined
by 8% yoy (8.9% mom). However, exports continued their strong momentum and
registered strong growth of 35.5% yoy (flat qoq) during the month. At `26, ALL is trading
at 11.4x FY2012E and 9.2x FY2013E earnings. We maintain our Buy view 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 �� ��
Auto numbers: Ashok Leyland – August 2011
Ashok Leyland (ALL) reported weak set of volume data for August 2011, registering a
decline of 3.5% yoy (7.9% mom) to 7,218 units. Total volume performance was lower than
expected and can be attributed to weakness in the overall product portfolio. M&HCV
passenger vehicle volumes declined by 6.9% yoy (9.9% mom), while M&HCV goods vehicle
volumes fell by 2.6% yoy (7.4% mom). Overall, domestic M&HCV vehicle volumes declined
by 8% yoy (8.9% mom). However, exports continued their strong momentum and
registered strong growth of 35.5% yoy (flat qoq) during the month. At `26, ALL is trading
at 11.4x FY2012E and 9.2x FY2013E earnings. We maintain our Buy view on the stock
with a target price of `31
No comments:
Post a Comment