Ashok Leyland Ltd (ALL) is witnessing month on month improvement in MHCV sales as economic activities pick up with the Government opening the economy. A progressive improvement in Index of Industrial Production (IIP) point at picking up of industrial activities which is leading to increased MHCV demand. We expect MHCV industry to witness stronger recovery cycle from FY22 driven by normalisation of economic activity and pent up demand post two consecutive years of downcycle in FY20 and FY21. With the launch of a new LCV platform, ALL has closed an important gap...