Ashok Leyland soars to a 4-year high, up 6% ahead of June quarter results

The demand for MHCV Trucks is expected to increase, driven by pickup in fleet utilization levels and supported by replacement demand in-line with recovery in economic activity and government spending.

Shares of Ashok Leyland hit an over four-year high at Rs 154.45, as the stock rallied 6 per cent on the BSE in Friday’s intra-day trade ahead of the April-June quarter (Q1FY23) results later today.

The automobiles company traded at its highest level since May 2018. The stock had hit a record high of Rs 168 on May 8, 2018. In the past three months, Ashok Leyland has outperformed the market by surging 21 per cent, as compared to 0.6 per cent rise in the S&P BSE Sensex.

Ashok Leyland is expected to report a muted performance in