Ashok Leyland shares surge to 9-month high as Street cheers market share, profitability aim

Shares of Ashok Leyland rose over 4% to a nine-month high after the company aimed to increase its market share from 32% to 35% in the medium and heavy commercial vehicles space, and from 20% to 25% in the light commercial vehicle space. In addition, the company intends to double its exports over the next two years. The Hinduja group company will expand its presence in North and East India and will introduce new products, hoping to improve its operating margins by cost-reduction initiatives and volume growth.