Ashok Leyland shares down 0.78% as Sensex rises

Shares of Ashok Leyland Ltd. fell 0.78 per cent to Rs 145.95 in Friday's session as of 02:12PM (IST) even as the equity benchmark Sensex traded 155.74 points higher at 62584.28.

Earlier in the day, the stock witnessed a gap down start to the session. The stock quoted a 52-week high price of Rs 169.4 and a 52-week low of Rs 128.35 on NSE. Around 274454 shares changed hands on the counter till 02:12PM (IST).

The stock opened at Rs 146.9 and has touched an intraday high and low of Rs 146.9 and Rs 144.5 during the session so far. The counter quoted a price-to-earnings (PE) ratio of 32.83, earnings per share (EPS) of Rs 4.44 and price to book value (PB) of 4.78, while the return on equity (ROE) stood at Rs 14.5.

Promoter/ FII Holding
The promoters held 51.53 per cent stake in the company as of June 02, while FII and MF ownerships stood at 14.85 per cent and 14.52 per cent, respectively.

Key Financials
With a market capitalisation of Rs 42794.06 crore, the company operates in the Auto - Cars/UV/CV industry. 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 same quarter a year ago. The company reported net profit of Rs 752.53 crore for the latest quarter, up 436.6 per cent from the corresponding quarter last year.

Technical Indicators
The relative strength index (RSI) of the stock stands at 47.01. 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.