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• Prabhudas Lilladher has recommended a buy rating on Ashok Leyland with a target price of Rs 210.
• The company's 2QFY24 EBITDA margin beat expectations and it aims to further increase margins in 2HFY24.
• Ashok Leyland is well positioned to sustain its market share gains and benefit from growth in the MHCV and LCV segments.