Shares of Ashok Leyland Ltd. edged up by 0.34% to Rs 219.15 during Thursday’s trade at 11:20 AM (IST), as the benchmark Nifty index stood at 23,741.55, up by 13.9 points. In the previous session, the stock had closed at Rs 219.90. Over the past 52 weeks, Ashok Leyland’s stock has fluctuated between a low of Rs 157.65 and a high of Rs 264.70. The company currently boasts a market capitalization of Rs 64,278.39 crore on the Bombay Stock Exchange (BSE).
As of 11:38 AM on December 26, 2024, the stock was trading at Rs 220.20, reflecting a slight gain of 0.32% or Rs 0.70. Analysts have a mean recommendation of ‘Buy’ on the stock, with 37 analysts providing insights on its performance.
Stock Performance & Key Metrics
With a P/E ratio of 24.46 and a trailing 12-month earnings per share (EPS) of Rs 8.95, Ashok Leyland is currently trading at 5.47 times its book value. The stock has a dividend yield of 2.26% and a beta of 2.13, indicating higher volatility compared to the broader market. Ashok Leyland has a return on equity (ROE) of 27.58%, reflecting strong profitability relative to shareholders’ equity.
So far, 96,487 shares of the company have changed hands on the BSE. Analysts suggest that while the stock’s price-to-earnings ratio and book value are noteworthy, it’s important for investors to consider multiple indicators when making buy or sell decisions.
Recent Financial Results
For the quarter ending September 30, 2024, Ashok Leyland reported consolidated sales of Rs 11,261.84 crore, showing a modest 1.76% growth year-on-year. The company also recorded a significant 34.15% year-on-year increase in net profit, reaching Rs 705.64 crore for the quarter.
Technical Indicators & Market Sentiment
As of Thursday’s session, the stock’s Relative Strength Index (RSI) was closely monitored. The RSI, which oscillates between 0 and 100, is a widely-used technical indicator to assess whether a stock is overbought (above 70) or oversold (below 30). Analysts caution that the RSI should not be viewed in isolation, as it may not be sufficient to make trading decisions without considering other factors.
In summary, Ashok Leyland Ltd. continues to show steady performance in the market, with solid financial growth and moderate stock price fluctuations. Investors are closely watching the stock’s future movement, as it maintains a strong market presence in the automotive sector.
