External broker reports(aggregated public sources), Axis Direct

Axis Direct

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only.  Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Market Share Gains – Outperforming Industry Trends: Ashok Leyland’s MHCV volumes are estimated to have grown by 3–5% YoY in FY26, reflecting sustained demand momentum.</li><li>We expect the company to maintain its market share at ~31.1% (vs 29.8% in the previous year) over the next two years.</li><li>In the LCV segment, market share improved to ~15% YoY, highlighting the brand’s strong competitive positioning and product excellence across the commercial vehicle (CV) spectrum.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Market Share Gains – Outperforming Industry Trends: Ashok Leyland’s MHCV volumes are estimated to have grown by 3–5% YoY in FY26, reflecting sustained demand momentum.We expect the company to maintain its market share at ~31.1% (vs 29.8% in the previous year) over the next two years.In the LCV segment, market share improved to ~15% YoY, highlighting the brand’s strong competitive positioning and product excellence across the commercial vehicle (CV) spectrum.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Ashok Leyland Ltd - Sustained Market Share Gains & Strategic Growth Levers