Ashok Leyland shares up 1.76% as Nifty gains

economictimes.indiatimes.com:

Ashok Leyland Ltd. rose 1.76 per cent to Rs 170.3 in Monday's trade. It hit an intraday high of Rs 173.85 and low of Rs 168.9, respectively, during the day.

The stock quoted a 52-week high price of Rs 173.85 and low of Rs 133.1. As of 10:05AM (IST), the counter saw total traded volume of 355,380 shares with a traded value of Rs 6.1 crore, according to NSE. The stock had closed at Rs 167.35 in the previous session.

The scrip has advanced 16.48 per cent in the past one month till date, while the benchmark BSE Sensex has gained 3.65 per cent during the same period. According to exchange data, the stock traded at a price-to-earnings (P/E) multiple of 38.51 while price-to-book ratio stood at 4.78. A higher P/E ratio shows that investors are willing to pay a higher price for per rupee earnings given by the stock because of better future growth expectations.

The price-to-book value indicates the inherent value of a company and it reflects the price investors are ready to pay even for no growth in a business. The stock belongs to the Auto — Cars/UV/CV industry.Promoter/FII Holding Promoters held 0.0 per cent stake in the company as of 31-Mar-2023, while FII and MF ownership in the firm stood at 14.73 per cent and 14.41 per cent, respectively.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 the previous quarter's Rs 10430.39 crore and up 32.89 per cent from the year-ago quarter's Rs 9957.95 crore. Its net profit for the latest quarter stood at Rs 752.53 crore, up 436.6 per cent from the same quarter a year ago.