New Delhi, Aug. 21 -- Ashok Leyland Ltd's shares have risen 11% over the past four trading sessions and hit a new 52-week high of Rs.134.31 on Wednesday-not without reason.

First, the management's commentary, especially on the margin scenario, in the recently held June quarter (Q1FY26) earnings call, was encouraging. Second, the anticipated cuts in the goods and services tax (GST) rates could potentially lower the on-road prices across auto segments, thus spurring demand, which is expected to benefit many companies, including Ashok Leyland.

For the commercial vehicle (CV) maker, profit margin expansion has been a key focus area. For FY26, the management's "overall aspiration would be to beat the last year's margins by a handsome margin"...