Share price of Ashok Leyland falls as Nifty strengthens

Shares of Ashok Leyland Ltd. slipped 2.08 per cent to Rs 129.75 in Tuesday's trade as of 02:00PM (IST). The stock hit a high price of Rs 133.5 and low of Rs 128.05 during the session.

The return on equity (ROE) for the stock stood at -2.1 per cent. Traded volume on the counter stood at 02:00PM shares and turnover at Rs 7.4 crore around that time. The stock of Ashok Leyland Ltd. quoted a 52-week high price of Rs 153.4 and 52-week low prices of Rs 106.2, respectively.

The stock's Beta value, which measures its volatility in relation to the broader market, stood at 1.55.

Promotor/FII Holding
Promoters held 0.0 per cent stake in the company as of 31-Dec-2021, while foreign investors held 14.93 per cent and domestic institutional investors had 13.97 per cent.

Key Financials
The company reported consolidated sales of Rs 5586.91 crore for the quarter ended 30-Sep-2021, up 36.16 per cent from previous quarter's Rs 4103.27 crore and up 44.08 per cent from the year-ago quarter's Rs 3877.62 crore. Net loss after tax for the latest quarter stood at Rs 103.43 crore, down 15.88 per cent from the same quarter a year ago.

Technicals
The MACD signalled a bearish bias on the counter. The MACD is known for signalling trend reversals in traded securities or indices.
It is the difference between the 26-day and 12-day exponential moving averages. A nine-day exponential moving average, called the signal line, is plotted on topof the MACD to reflect "buy" or "sell" opportunities. When the MACD crosses below the signal line, it gives a bearish signal, indicating that the price of the security may see a downward movement and vice versa.