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Ashok Leyland touches record high after Nomura raises target price
Ashok Leyland hit a record high after Nomura raised its target to ₹196, while traders tracked volatility and key technical levels in Revathi Equipment.
Ashok Leyland shares climbed to a fresh all time high on December 22 after global brokerage Nomura raised its target price on the stock to ₹196 and reiterated a Buy rating. The commercial vehicle major traded near the ₹174–₹177 range during the session, reflecting strong momentum amid optimism around the domestic CV upcycle. Nomura highlighted improving demand conditions and operating leverage as key positives, calling Ashok Leyland a prime beneficiary of the sector recovery. Meanwhile, traders continued to monitor Revathi Equipment India, where sharp price swings have kept the stock in focus as investors debate whether recent rebounds can sustain beyond key resistance levels.