Ashok Leyland shares drop 0.33% as Sensex rises

Shares of . traded 0.33 per cent down at Rs 166.0 at 02:10PM (IST) on Monday, even as BSE benchmark Sensex gained 488.03 points to 60281.17.

The scrip had settled at Rs 166.55 in the previous session. The stock quoted a 52-week high price of Rs 169.4 and 52-week low of Rs 93.2, respectively. As per BSE data, total traded volume on the counter till 02:10PM (IST) stood at 573232 shares with a turnover of Rs 9.51 crore.

At the current price, the stock traded at -2920.59 times its trailing 12-month EPS of Rs -0.06 per share and 4.71 times its price-to-book value, exchange data showed.

A higher P/E ratio shows investors are willing to pay a higher share price today because of growth expectations in the future.

Price-to-book value indicates the inherent value of a company and reflects the price investors are ready to pay even for no growth in the business. The stock's Beta value, which measures its volatility in relation to the broader market, stood at 1.55.

Shareholding Details

Promoters held 0.0 per cent stake in the company as of 30-Jun-2022, while FIIs owned 14.91 per cent and DIIs 14.81 per cent.

Technicals
On the technical charts, the relative strength index (RSI) of the stock stood at 68.45. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold condition when it is below 30. Chartists say, RSI should not be seen in isolation, as it may not be sufficient to take a trading call, just the way fundamental analysts cannot give a'buy' or'sell' recommendation using a single valuation ratio.