Share price of Ashok Leyland jumps as Sensex drops 81.01 points

Share price of Ashok Leyland Ltd. gained 0.49 per cent to Rs 164.65 at 11:49AM (IST) in Thursday's trade. The scrip hit a high of Rs 166.15 and low of Rs 163.25 so far during the session. The stock had closed at Rs 163.85 in the previous session.

The counter had a total traded volume of 11:49AM shares so far with a turnover of Rs 4.37 crore on BSE. The stock traded at a price-to-earnings multiple of 37.26 and a price-to-book ratio of 4.78.

A higher P/E ratio shows investors are willing to pay a higher price for per rupee earnings given by the stock because of better future growth expectations.

The price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.

Ashok Leyland Ltd. belongs to the Auto - Cars/UV/CV industry.

Promotor/FII Holding
Promoters held 51.53 per cent stake in the company as of 31-Mar-2023, while FIIs and domestic institutional investors ownership stood at 14.85 per cent and 22.06 per cent, respectively.

Key Financials
The firm reported consolidated net sales of Rs 13233.16 crore for the quarter ended 31-Mar-2023, up 26.87 per cent from the previous quarter's Rs 10430.39 crore and up 32.89 per cent from the year-ago quarter's Rs 9957.95 crore.

Its profit for the latest quarter stood at Rs 752.53 crore, up 436.6 per cent from the same quarter a year ago.