Shares of Ashok Leyland rise as Nifty gains
On the technical charts, the 200-day moving average of the stock stood at Rs 173.86.
Shares of gained 2.03 per cent to Rs 162.9 in Thursday's trade as of 10:25AM (IST). It hit a high of Rs 163.3 and low of Rs 157.65 during the session.The stock quoted a 52-week high price of Rs 191.45 and a low of Rs 133.1. The return on equity for the stock stood at 14.57 per cent. About 226,541 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 underperformer, up 17.49 per cent in the past one year in comparison with a 25.08 per cent gain in .
Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 133.1 on March 14, while the 50-DMA was at Rs 173.24. 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 as of 31-Dec-2023. Mutual funds and foreign institutional investors held 8.64 per cent and 20.32 per cent stake.
Source: Stocks-Markets-Economic Times
