Ashok Leyland shares down 1.07% as Nifty drops

NEW DELHI: Shares of Ashok Leyland Ltd. traded 1.07 per cent down in Friday's trade at 11:31AM (IST). Around 63,297 shares changed hands on the counter.

The stock opened at Rs 176.25 and touched an intraday high and low of Rs 177.3 and Rs 174.65, respectively, in the session so far. The stock of Ashok Leyland Ltd. quoted a 52-week high of Rs 191.45 and a 52-week low of Rs 133.1.

Total market cap of the Ashok Leyland Ltd. stood at Rs 51338.19 crore at the time of writing this report.

Key Financials
The company reported consolidated sales of Rs 9735.45 crore for the quarter ended 30-Jun-2023, down 26.43 per cent from previous quarter's Rs 13233.16 crore and down 34.31 per cent from the year-ago quarter's Rs 7248.49 crore.

The net profit for latest quarter stood at Rs 543.89 crore, up 699.25 per cent from the same quarter a year ago.

Shareholding pattern
As of 30-Sep-2023, domestic institutional investors held 10.1 per cent stake in the company, while foreign institutional investors held 20.21 per cent and the promoters 51.53 per cent.


Valuation ratio
According to BSE data, the stock traded at a price-to-earnings multiple of 28.85 and a price-to-book ratio of 4.78. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. 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.