Ashok Leyland shares drop 0.93% as Sensex falls

Shares of Ashok Leyland Ltd. traded 0.93 per cent lower in Wednesday's session at 12:33PM (IST). The stock opened at Rs 145.35 and has touched an intraday high and low of Rs 146.0 and Rs 143.7, respectively, during the session so far.

The stock quoted a 52-week high of Rs 169.4 and a 52-week low of 93.2. About 237,337 shares changed hands on the counter so far.

Benchmark Nifty50 was down 84.75 points at 18300.55, while the BSE Sensex traded 317.82 points lower at 61384.47 at the time of writing of this report.

In the Nifty pack, 16 stocks traded the day in the green, while 34 were in the red.


Key Financials
For the quarter ended 30-Sep-2022, the company reported consolidated sales of Rs 9620.28 crore, up 32.72 per cent from the previous quarter's Rs 7248.49 crore and up 72.19 per cent from the year-ago quarter. The company reported net profit of Rs 163.91 crore for the latest quarter.

Promoter Holdings
Promoters held 51.54 per cent stake in the company as of 30-Sep-2022, while FIIs held 15.03 per cent and MFs 12.78 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 140.04 on December 21, while the 50-DMA was at Rs 146.86. 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.