Ashok Leyland hits record high as merger approval and strong fundamentals lift sentiment

Ashok Leyland climbed over 6% to a record ₹158.47 after Hinduja Leyland Finance approved its merger with NDL Ventures. Trading volumes rose sharply to 48.1 million shares versus a 30-day average of 13.9 million. The scheme proposes a 25:10 share exchange for NDL Ventures holders. Analysts maintain a broad Buy view with a ₹160 median target, supported by stronger Q2 profitability, margin expansion and improving commercial vehicle demand across key segments.