Shares of Ashok Leyland rise as Nifty drops
Ashok Leyland Ltd. gained 0.14 per cent to Rs 187.75 in Thursday's trade as of 11:17AM (IST). It hit a high of Rs 189.25 and low of Rs 187.1 during the session.
The stock quoted a 52-week high price of Rs 189.25 and a low of Rs 133.1. The return on equity for the stock stood at 14.57 per cent. About 203,200 shares have changed hands on the counter so far.
The stock's beta value, which measures its volatility in relation to the broader market, stood at 1.55. The scrip has been an outperformer, up 27.76 per cent in the past one year in comparison with a 11.56 per cent gain in Sensex.Technicals On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 133.1 on August 10, while the 50-DMA was at Rs 168.52. If a stock trades well above 50-DMA and 200-DMA, it usually means the immediate trend is upward.
On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.Promoter/FII Holding Promoters held 0.0 per cent stake in Ashok Leyland Ltd. as of 30-Jun-2023. Mutual funds and foreign institutional investors held 13.13 per cent and 16.45 per cent stake.
. Read more on economictimes.indiatimes.com
