Name: Latest research reports of Ashok Leyland Ltd. authored by ICICI Direct and published by - Trendlyne research reports.
Item: Ashok Leyland Ltd.
Rating: 3
Author: ICICI Direct

Ashok Leyland Ltd.

16 Nov 2025

146.24

0.54%

Ashok Leyland

Hold: Ashok Leyland Ltd.

ICICI Direct

About the stock: Ashok Leyland (ALL) is a pure-play CV manufacturer FY25 product mix LCV goods 35%, trucks 50%, buses 15% Q2FY26 Results: Company reported healthy operational performance in Q2'26. Standalone revenues for Q2FY26 came in at 9,588 crore, up 9.3% YoY amidst 8% growth in volumes to 49k units. EBITDA for the quarter came in at 1,162 crore with margins at 12.1%, up 100 bps QoQ. Consequent PAT in Q2FY26 came in at ...

Ashok Leyland Ltd. is trading above all available SMAs

Tata Steel Ltd.

16 Nov 2025

172.46

-0.43%

Tata Steel

Buy: Tata Steel Ltd.

Target

ICICI Direct

TSL's Indian operations will benefit from capacity expansion and the likely extension of the 12% safeguard duty, supporting domestic prices. Moreover, the EU import-control measures should also aid European steel pricing and strengthen Netherlands performance. On that note, we maintain BUY rating on Tata Steel with SOTP-based target price of 210...

Tata Steel Ltd. has an average target of 191.12 from 8 brokers.

Premier Explosives Ltd.

16 Nov 2025

570.45

0.04%

Premier Explosives Ltd.

Buy: Premier Explosives Ltd.

ICICI Direct

Growth set to pick-up led by strong industry tailwinds About the stock: Premier Explosives (PEL) specializes in producing high-energy materials, including bulk and packaged explosives and initiating systems for mining, infrastructure & construction. Company also manufactures missile and rocket propellants, strap-on motors for satellite launches, and various defence...

ICICI Direct released a Buy report for Premier Explosives Ltd. with a price target of 815.0 on 16 Nov, 2025.

Sun TV Network Ltd.

15 Nov 2025

537.10

-4.08%

Movie segment drives growth; core business remains weak

Neutral: Sun TV Network Ltd.

Motilal Oswal

Sun TV Network (SUNTV) reported a weak 2QFY26, with ad revenue declining 13% YoY amid weak consumer sentiment and cut back in ad spends by FMCG players on linear TV.

Sun TV Network Ltd. has lost -27.48% in the last 1 Year

Siemens Ltd.

15 Nov 2025

3216.30

0.15%

Performance – a mixed bag

Neutral: Siemens Ltd.

Recommendation Target

Motilal Oswal

Siemens (SIEM) delivered a revenue beat, while profitability came in slightly below our estimate. Segment-wise, smart infra and mobility did well in terms of revenue, while the digital industry remained weak on both revenue and margin fronts.

Siemens Ltd. is trading above its 150 day SMA of 3139.6

Mishra Dhatu Nigam Ltd.

15 Nov 2025

353.15

0.47%

Lower dispatches impact H1; revenue guidance of INR 13/INR 20bn in 1/5 years intact

Buy: Mishra Dhatu Nigam Ltd.

Target

ICICI Securities Limited

MIDHANI’s Q2FY26 performance was disappointing. EBITDA fell 33% YoY to INR 328mn, following a 20% YoY fall in revenues to INR 2.1bn as some of the dispatches shifted to H2.

Mishra Dhatu Nigam L.. has an average target of 452.50 from 2 brokers.

Indraprastha Gas Ltd.

15 Nov 2025

204.06

-1.21%

A muted quarter, but margins and volumes could see traction over next 12–18 months

Buy: Indraprastha Gas Ltd.

Target

ICICI Securities Limited

Indraprastha Gas (IGL) saw YoY ~17.4%/13.6% dip in Q2FY26 EBITDA/PAT to INR 4.4/INR 3.7bn, below I-Sec’s estimates of INR 5.6/INR 4bn, driven by higher gas cost with a reduction in APM and NWG’s share in Q2.

Number of FII/FPI investors increased from 337 to 343 in Sep 2025 qtr.

Chemplast Sanmar Ltd.

15 Nov 2025

316.50

-2.65%

PVC revival through policy action; dumping continues to erode spreads

Buy: Chemplast Sanmar Ltd.

Target

ICICI Securities Limited

Chemplast Sanmar (CSL) has been enduring challenges over the past two years due to a weak cycle in PVC business; however, the expectation was that policy action should aid business recovery which may have been deferred.

Chemplast Sanmar Ltd. is trading below all available SMAs

Apollo Tyres Ltd.

15 Nov 2025

519.25

-0.65%

Strong operating performance; demand outlook improving

Buy: Apollo Tyres Ltd.

Target

ICICI Securities Limited

Apollo Tyres (APTY)’s Q2FY26 operating performance beat our estimate. Decline in RM basket drove strong margin improvement. Domestic replacement demand is expected to pick pace going ahead.

Number of FII/FPI investors increased from 302 to 313 in Sep 2025 qtr.

Akums Drugs & Pharmaceuticals Ltd.

15 Nov 2025

421.55

-0.79%

Export business poised for strong growth ahead

Buy: Akums Drugs & Pharmaceutic...

Target

ICICI Securities Limited

Akums Drugs and Pharmaceuticals (Akums)’s Q2FY26 performance was marred by pricing pressure in API and cost escalation on overheads of new plants. Volumes for the CDMO business, though, continue to grow (7% growth in Q2) despite flattish volumes for market.

Akums Drugs & Pharmaceuticals Ltd. has lost -25.32% in the last 6 Months