Ashok Leyland , a leading commercial vehicle manufacturer in India, saw its share price reach an unprecedented high of Rs 142.63 on Friday, marking a significant milestone for the company. The stock surged nearly 3% in a single day, capping off an impressive run of over 5% gains across four consecutive trading sessions since Monday.

Analyst Endorsement and Management Confidence

Bank of America (BoFA) has reaffirmed its 'Buy' rating on Ashok Leyland following meetings with the company's senior management. The brokerage highlighted the management's confidence in industry growth prospects and their reaffirmation of mid-single digit volume growth guidance for medium and heavy commercial vehicles.

Improving Market Fundamentals

BoFA's positive outlook is supported by improving fundamentals in the truck operator market. The brokerage noted:

• Rising rentals for truck operators
• Healthy utilization levels in the sector

These factors contribute to a favorable environment for commercial vehicle manufacturers like Ashok Leyland.

Battery Business Investment

Addressing concerns about potential high capital expenditure, Ashok Leyland's management provided clarity on their battery business investment plans:

• Initial investment limited to Rs 300-500 crore
• Investment spread over 12-18 months

This measured approach to diversification into the battery sector appears to have been well-received by investors.

Stock Performance and Analyst Sentiment

Ashok Leyland's stock has demonstrated strong performance over the past year:

• 18.60% gain over the last 12 months
• Trading volume at 2.8 times its 30-day average on Friday

The positive momentum is reflected in analyst recommendations:

• 34 out of 44 analysts covering the company maintain 'buy' ratings
• Average 12-month price target implies a further 2.6% upside potential

Market Outlook

The robust performance of Ashok Leyland's stock, coupled with positive analyst sentiment and improving sector fundamentals, suggests a favorable outlook for the company. However, investors should always consider market risks and conduct their own research before making investment decisions.

As Ashok Leyland continues to navigate the evolving commercial vehicle market and explores new opportunities in the battery sector, market participants will be closely watching the company's performance in the coming quarters.

Ashok Leyland , a leading commercial vehicle manufacturer, has initiated a postal ballot process to seek shareholder approval for the appointment of two new Non-Executive Independent Directors to its Board. The company aims to strengthen its leadership team with the addition of Ms. Geeta Mathur and Mr. Sridharan Kesavan, both bringing extensive experience in finance and corporate governance.

Proposed Appointments

The Board of Directors, based on recommendations from the Nomination and Remuneration Committee, has proposed the following appointments:

1. Ms. Geeta Mathur: Proposed for a five-year term from August 25, 2025, to August 24, 2030.
2. Mr. Sridharan Kesavan: Proposed for a three-year term from August 25, 2025, to August 24, 2028.

Both candidates were initially appointed as Additional Directors by the Board, effective August 25, 2025.

About the Nominees

Ms. Geeta Mathur

• Chartered Accountant with a B.Com (Hons) from Shri Ram College of Commerce, Delhi University
• Extensive corporate experience, currently serving on multiple company boards
• Expertise in finance, risk management, and corporate governance
• Recipient of the Women Independent Director of the Year award in 2023

Mr. Sridharan Kesavan

• Chartered Accountant and Cost Accountant with a B.Com from Madras University
• Former Chief Financial Officer of Ashok Leyland (32 years of service)
• Rich experience in finance, including budgeting, taxation, and corporate treasury
• Led key financial initiatives, international fund-raising, and strategic acquisitions

Voting Process

Ashok Leyland has initiated an e-voting process for shareholders to cast their votes on these appointments:

• E-voting period: September 6, 2025 (9:00 AM) to October 5, 2025 (5:00 PM)
• Results announcement: On or before October 7, 2025

The company has appointed M/s. B. Chandra & Associates, Practicing Company Secretaries, as the scrutinizer for conducting the postal ballot process.

Compliance and Disclosures

Both nominees have submitted declarations confirming their independence and eligibility as per the Companies Act, 2013, and SEBI Listing Regulations. The Board has expressed its opinion that Ms. Mathur and Mr. Kesavan fulfill the conditions specified for appointment as Independent Directors and are independent of the company's management.

Ashok Leyland's move to appoint these experienced professionals aims to enhance its Board's expertise and strengthen corporate governance practices. Shareholders will play a crucial role in finalizing these appointments through their votes in the ongoing postal ballot process.