Ashok Leyland shares up 0.62% as Nifty gains

NEW DELHI: Shares of Ashok Leyland Ltd. traded 0.62 per cent up in Monday's trade at 10:30AM (IST). Around 263,597 shares changed hands on the counter.

The stock opened at Rs 176.95 and touched an intraday high and low of Rs 178.0 and Rs 175.7, respectively, in the session so far. Shares of the company of Ashok Leyland Ltd. quoted a 52-week high of Rs 191.45 and a 52-week low of Rs 133.1.

As per BSE, the total market cap of the Ashok Leyland Ltd. stood at Rs 51866.69 crore at the time of writing this report.

Key Financials
The company reported consolidated net 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 corresponding quarter last year.

Shareholding pattern
As of 30-Jun-2023, domestic institutional investors held 13.13 per cent stake in the company, while foreign institutional investors held 16.45 per cent and the promoters 0.0 per cent.


Valuation ratio
According to BSE data, the stock traded at a P/E multiple of 29.15 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.