Ashok Leyland shares up 1.38% as Nifty gains
Ashok Leyland Ltd. traded 1.38 per cent up in Wednesday's trade at 10:15AM (IST). Around 519,653 shares changed hands on the counter.
The scrip opened at Rs 167.65 and touched an intraday high and low of Rs 169.9 and Rs 167.35, respectively, in the session so far. The stock of Ashok Leyland Ltd. quoted a 52-week high of Rs 173.85 and a 52-week low of Rs 133.1.
Total market cap of the Ashok Leyland Ltd. stood at Rs 49738.0 crore at the time of writing this report.Key Financials The company reported consolidated sales of Rs 13233.16 crore for the quarter ended 31-Mar-2023, up 26.87 per cent from previous quarter's Rs 10430.39 crore and up 32.89 per cent from the year-ago quarter's Rs 9957.95 crore. The net profit for latest quarter stood at Rs 752.53 crore, up 436.6 per cent from the same quarter a year ago.Shareholding pattern As of 31-Mar-2023, domestic institutional investors held 14.52 per cent stake in the firm, while foreign institutional investors held 14.85 per cent and the promoters 51.53 per cent.Valuation ratio According to BSE data, the stock traded at a price-to-earnings multiple of 38.16 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 is the measure of the price that investors are ready to pay even for no growth in the business. Ashok Leyland Ltd.
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