New Delhi, July 4 -- Shares of Ashok Leyland have piqued investor interest after brokerage firm Angel One issued a bullish view on the stock. Despite recent volatility, the firm projected an almost 18 percent upside, citing a robust technical setup and strong momentum indicators. With positive developments in the commercial vehicle space and a healthy financial profile, the company is positioned for steady gains, Angel One said.

The brokerage has a buy call with a target price of Rs.295, implying an upside potential of almost 18 percent from previous close of Rs.250.60.

According to Angel One, the Indian commercial vehicle (CV) market is undergoing a structural revival led by increased government capital expenditure, rising freight dema...