Ashok Leyland, Tata Motors and other CV stocks soar up to 9%. What’s triggering the surge?

Commercial vehicle stocks surged up to 9% led by Tata Motors (+9% to Rs 426) and Ashok Leyland (+6% to Rs 161), driven by a sharp fall in crude oil prices following a US-Iran peace deal framework to reopen the Strait of Hormuz within 30 days. Brent crude slipped 4.5% to $83.47 and WTI declined 5% to $80.70, reducing operating costs for fleet operators and improving freight economics. Eicher Motors gained 3%, Force Motors 7%, and SML Mahindra 8% on the broad-based rally.