Ashok Leyland shares drop 3.46% as Sensex rises

economictimes.indiatimes.com:

Ashok Leyland Ltd. traded 3.46 per cent down at Rs 178.4 at 12:23PM (IST) on Tuesday, even as BSE benchmark Sensex gained 23.39 points to 67150.47.
The stock had closed at Rs 184.8 in the previous session.

The stock quoted a 52-week high price of Rs 191.45 and 52-week low of Rs 133.1, respectively. As per BSE data, total traded volume on the counter till 12:23PM (IST) stood at 449659 shares with a turnover of Rs 810.0 crore.
At the prevailing price, the stock traded at 29.51 times its trailing 12-month earnings per share of Rs 6.06 per share and 4.78 times its price-to-book value, BSE data showed.
A higher P/E ratio shows investors are willing to pay a higher share price today because of growth expectations in the future.
Price-to-book value indicates the inherent value of a company and reflects the price investors are ready to pay even for no growth in the business.

The stock's Beta value, which measures its volatility in relation to the broader market, stood at 1.55.
Shareholding Details
Promoters held 0.0 per cent stake in the company as of 30-Jun-2023, while FIIs owned 16.45 per cent and DIIs 13.13 per cent.
Technicals On the technical charts, the relative strength index (RSI) of the stock stood at 39.02. 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. Chartists say, RSI should not be seen in isolation, as it may not be sufficient to take a trading call, just the way fundamental analysts cannot give a'buy' or'sell' recommendation using a single valuation ratio.