ashok leyland (Citi) 4Q Caps a Solid FY11; Outlook Uncertain Given Macro Headwinds

Recurring PAT at Rs2.98bn was 3% above our estimates; Market share rebound a positive; Maintain Sell. Revise TP to Rs.52 from Rs.72
Date Rating Target Price Recommendation Price Broker house
23 May 2011 sell 52 (From 72) 51 Citi Report

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