Ashok Leyland shares fall 1.62% as Nifty gains
Ashok Leyland Ltd. traded 1.62 per cent down at Rs 247.65 on Wednesday at around 11:57AM (IST), while the benchmark BSE Sensex advanced 148.69 points to 79104.72.
As many as 331,895 shares changed hands on the counter with a total value of Rs 8.29 crore.
The stock quoted a 52-week high price of Rs 258.95 and a 52-week low of Rs 157.65.
On the technical charts, the 200-DMA of the stock stood at Rs 193.64, while 50-DMA was at Rs 236.95. If a stock trades above 50 DMA and 200 DMA, it usually means the immediate trend is up. On the other hand, if the stock trades below 50 DMA and 200 DMA both, it is considered a bearish trend and if it trades between 50DMA and 200DMA, then it suggests the stock can go anywhere.
Shares of the company have advanced 32.5 per cent in the past one year, while Sensex has risen 20.13 per cent during the same period.
According to BSE data, the stock trades at a price-to-earnings multiple of 29.7 and a price-to-book ratio of 5.58. 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 reflects the price that investors are ready to pay even for no growth in a business. The stock belongs to the Auto — Cars/UV/CV industry.
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