Shares of Ashok Leyland, a Chennai-based automotive manufacturer, surged approximately 13% to reach an intraday high of ₹172.79 on the National Stock Exchange (NSE). This increase is attributed to a temporary ceasefire between the US and Iran, which has alleviated investor concerns regarding potential supply disruptions. Additionally, the Reserve Bank of India (RBI) maintained the repo rate at 5.25% for the second consecutive meeting, further bolstering market confidence. Ashok Leyland's market capitalization exceeded ₹1 trillion, climbing to ₹1,01,018.55 crore, an increase of ₹11,189 crore from the previous day. In March 2026, the company reported a 5% growth in total sales, with domestic sales also rising by 5%. Axis Securities has recommended a 'Buy' rating on the stock, projecting a target price of ₹180, indicating an 18% upside from the previous closing price. Analysts expect sustained long-term growth for Ashok Leyland, driven by demand recovery and infrastructure spending.