Ashok Leyland Q1 Results Impress; SEBI RA Sees Potential Breakout Above ₹133

The board approved investments of around ₹306 crore in wholly-owned subsidiaries

Shares of Indian truck maker Ashok Leyland ended 2% higher on Thursday after the company reported solid first-quarter (Q1 FY26) results.

Q1 Earnings Boost

Ashok Leyland posted a 13% increase in net profit at ₹594 crore for the quarter ended June 30. The company reported its highest-ever revenue at ₹8,725 crore, up 1.5%. Ashok Leyland also reported a record commercial vehicle volume of 44,238 units during the quarter.

Separately, the company’s board approved investments in its wholly owned subsidiaries, including up to ₹5.70 crore in Vishwa Buses and Coaches (VBCL), and up to ₹300 crore in Ohm Global Mobility Pvt Ltd.

VBCL engages in bus body and coach manufacturing, while OHM operates in the e-mobility-as-a-service (EMAAS) space, managing and maintaining electric buses and trucks under a pay-per-use model.

Technical View

On the monthly chart, Ashok Leyland’s stock is showing a sideways to positive trend, with strong support in the ₹109 - ₹116 range, said SEBI-registered analyst Sameer Pande.

The stock is likely to find resistance in the ₹127 - ₹133 range, but a breakout above ₹133 could trigger a fresh buying momentum, Pande added.

On the weekly timeframe, the relative strength index (RSI) stands at 56, indicating moderate strength.

The stock trades near its 20-day exponential moving average (EMA) and remains supported by the supertrend indicator. He recommends a stop-loss at ₹105 on a closing basis.

Retail Sentiment

Retail sentiment for Ashok Leyland shifted to ‘neutral’ from ‘bearish’ a day earlier.

Ashok Leyland shares have gained over 10% so far this year.

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