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Buy Ashok Leyland on declines with a one year target of Rs 135 recommends market expert Sanjiv Bhasin

Updated : June 03, 2019 05:36 PM IST

In an interview to CNBC-TV18, Sanjiv Bhasin of IIFL and Ashwani Gujral of ashwanigujral.com spoke about how the markets fared in trade today. They also answered viewer stock queries.

Answering viewer query on HPCL, Gujral said, “HPCL is a crude sensitive, it is a cyclical stock. You buy HPCL when the news is good, which means right now the news is good and if you bought HPCL when it reached almost Rs 150-160, now is the time to book profits. If you buy here and crude starts to move up again, then you could get into trouble. So, this is the time to book profits on oil marketing.”

On Ashok Leyland Bhasin advised buying at Rs 82-83. “We think this will be a star outperformer given that its market share in the LCV, MHV market is growing. It is the third largest bus manufacturer globally, 50 percent market share in India and they are going to be the inordinate beneficiary of government’s reaction on 200 airports and the armor trucks. Both of those summarise that Ashok Leyland could be up and kicking. We have a one year target of Rs 135-140 on Ashok Leyland with a buy rating on declines,” he said.

Follow stock recommendations by Ashwani Gujral here: https://www.cnbctv18.com/author/ashwani-gujral-115/

Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.
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