Ashok Leyland shares fall 0.03 per cent in Wednesday's trading session

On BSE, 676,325 shares have changed hands on the counter so far. At its prevailing price, the stock traded at 19.91 times its trailing 12-month EPS of Rs 8.11 per share and 4.78 times its book value. The return on equity (ROE) stood at Rs 14.57.

Key Financials
For the quarter ended 31-Dec-2023, reported consolidated sales of Rs 11119.45 crore, down 6.61 per cent from the same quarter a year ago. The company reported 75.59 per cent YoY growth in net profit at Rs 560.21 crore for the latest quarter.

Technical indicators
The relative strength index (RSI) of the stock stood at Wednesday. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold when it is below 30.

Analysts say the RSI indicator should not be seen in isolation, as it may not be sufficient to take a trading call, just the way a fundamental analyst cannot give a "buy" or "sell" recommendation using a single valuation ratio.