Ashok Leyland shares gain 1.18% as Sensex rises
On the technical charts, the RSI of the stock stood at 55.1.
Shares of traded 1.18 per cent up at Rs 170.9 at 11:06AM (IST) on Thursday, even as benchmark gained 791.69 points to 73788.0.The scrip had settled at Rs 168.9 in the previous session. The stock quoted a 52-week high price of Rs 191.45 and 52-week low of Rs 133.1, respectively. As per BSE data, total traded volume on the counter till 11:06AM (IST) stood at 156819 shares with a turnover of Rs 2.67 crore.
At the current price, shares of the company traded at 21.07 times its trailing 12-month earnings per share of Rs 8.11 per share and 4.78 times its price-to-book value, exchange data showed.
A higher P/E ratio shows investors are willing to pay a higher share price today because of growth expectations in the future.
Price-to-book value indicates the inherent value of a company and reflects the price investors are ready to pay even for no growth in the business. The stock's Beta value, which measures its volatility in relation to the broader market, stood at 1.55.
Shareholding Details
Promoters held 0.0 per cent stake in the company as of 31-Dec-2023, while FIIs owned 20.32 per cent and DIIs 8.64 per cent.
Technicals
On the technical charts, the relative strength index (RSI) of the stock stood at 55.1. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold condition when it is below 30. Chartists say, RSI should not be seen in isolation, as it may not be sufficient to take a trading call, just the way fundamental analysts cannot give a'buy' or'sell' recommendation using a single valuation ratio.
Source: Stocks-Markets-Economic Times
