Ashok Leyland shares down 1.49% as Sensex falls

Shares of Ashok Leyland Ltd. fell 1.49 per cent to Rs 186.15 in Friday's session as of 01:19PM (IST) even as the equity benchmark Sensex traded 314.99 points lower at 64836.03.

Earlier in the day, the stock witnessed a gap down start to the session. The stock quoted a 52-week high price of Rs 191.45 and a 52-week low of Rs 133.1 on NSE. Around 520679 shares changed hands on the counter till 01:19PM (IST).

The stock opened at Rs 188.1 and has touched an intraday high and low of Rs 189.15 and Rs 185.05 during the session so far. The stock quoted a price-to-earnings (PE) ratio of 30.67, earnings per share (EPS) of Rs 6.06 and price to book value (PB) of 4.78, while the return on equity (ROE) stood at Rs 14.57.

Promoter/ FII Holding
The promoters held 51.53 per cent stake in the company as of August 18, while FII and MF ownerships stood at 16.59 per cent and 13.24 per cent, respectively.

Key Financials
With a market capitalisation of Rs 54567.93 crore, the company operates in the Auto - Cars/UV/CV industry. For the quarter ended 30-Jun-2023, the company reported consolidated sales of Rs 9735.45 crore, down 26.43 per cent from the previous quarter?s Rs 13233.16 crore and down 34.31 per cent from the same quarter a year ago. The company reported net profit of Rs 543.89 crore for the latest quarter, up 699.25 per cent from the corresponding quarter last year.

Technical Indicators
The relative strength index (RSI) of the stock stands at 63.48. 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. Analysts say the RSI indicator should not be seen in isolation, as it may not be sufficient to take a trading call, just the way a fundamental analyst cannot give a "buy" or "sell" recommendation using a single valuation ratio.