Ashok Leyland shares drop 1.86% as Sensex falls

Shares of Ashok Leyland Ltd. traded 1.86 per cent lower in Friday's session at 01:43PM (IST). The stock opened at Rs 164.0 and has touched an intraday high and low of Rs 164.3 and Rs 159.7, respectively, during the session so far.

The stock quoted a 52-week high of Rs 170.5 and a 52-week low of 133.1. About 519,227 shares changed hands on the counter so far.

Benchmark Nifty50 was down 58.85 points at 18712.4, while the BSE Sensex traded 104.59 points lower at 63134.3 at the time of writing of this report.

In the Nifty pack, 14 stocks traded the day in the green, while 36 were in the red.


Key Financials
For the quarter ended 31-Mar-2023, the company reported consolidated sales of Rs 13233.16 crore, 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. The company reported net profit of Rs 752.53 crore for the latest quarter.

Promoter Holdings
Promoters held 51.53 per cent stake in the company as of 31-Mar-2023, while FIIs held 14.85 per cent and MFs 14.52 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 148.04 on June 23, while the 50-DMA was at Rs 149.25. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered as bearish trend and if trades between these averages, then it suggests the stock can go either way.