Ashok Leyland shares fall 0.03 per cent in Friday's trading session

Shares of Ashok Leyland Ltd. fell 0.03 per cent to Rs 145.4 in Friday's trade as of 12:10PM (IST) even as the benchmark Nifty ruled at 18441.8, up 120.65 points.

The scrip had closed at Rs 145.45 in the previous session. The stock quoted a 52-week low of Rs 128.35 and a high of Rs 169.4. The company quoted a market-cap of Rs 42632.57 crore on the BSE.

On BSE, 219,238 shares have changed hands on the counter so far. At its prevailing price, the stock traded at 32.71 times its trailing 12-month EPS of Rs 4.44 per share and 4.78 times its book value. The return on equity (ROE) stood at Rs 14.5.

Key Financials
For the quarter ended 31-Mar-2023, Ashok Leyland Ltd. reported consolidated sales of Rs 13233.16 crore, up 32.89 per cent from the same quarter a year ago. The company reported 436.6 per cent YoY growth in net profit at Rs 752.53 crore for the latest quarter.

Technical indicators
The relative strength index (RSI) of the stock stood at Friday. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold 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.