Stock market news: Ashok Leyland shares down over 1%

NEW DELHI: Shares of Ashok Leyland Ltd. traded 1.2 per cent down in Wednesday's trade at 11:27AM (IST). Around 944,653 shares changed hands on the counter.

The stock opened at Rs 75 and touched an intraday high and low of Rs 75.6 and Rs 74, respectively, in the session so far. The stock of Ashok Leyland Ltd. quoted a 52-week high of Rs 87.5 and a 52-week low of Rs 33.7.

Total market cap of the Ashok Leyland Ltd. stood at Rs 21810.97 crore at the time of writing this report.

Key Financials
The company reported consolidated sales of Rs 1480.16 crore for the quarter ended 30-Jun-2020, down 70.91 per cent from previous quarter's Rs 5088.04 crore and down 77.28 per cent from the year-ago quarter's Rs 6514.73 crore.

The net loss for latest quarter stood at Rs 409.08 crore.

Shareholding pattern
As of 30-Jun-2020, DIIs held 8.5 per cent stake in the firm, while foreign institutional investors held 15.51 per cent.

Valuation ratio
According to BSE data, the stock traded at a P/E multiple of -68.24 and a price-to-book ratio of 1.62. 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.