Ashok Leyland shares rise 0.57% as Nifty gains
Ashok Leyland Ltd. traded 0.57 per cent up at Rs 174.8 on Wednesday at around 11:52AM (IST), while the benchmark BSE Sensex advanced 457.66 points to 71794.46.
As many as 296,341 shares changed hands on the counter with a total value of Rs 5.18 crore.
The stock quoted a 52-week high price of Rs 191.45 and a 52-week low of Rs 133.1.
On the technical charts, the 200-DMA of the stock stood at Rs 165.27, while 50-DMA was at Rs 173.68. 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 23.32 per cent in the past one year, while Sensex has risen 17.57 per cent during the same period.
According to BSE data, the stock trades at a price-to-earnings multiple of 23.92 and a price-to-book ratio of 4.78.
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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