Ashok Leyland shares down 0.22% as Sensex rises

The stock opened at Rs 241.75 and has touched an intraday high and low of Rs 243.25 and Rs 240.0 during the session so far. The counter quoted a price-to-earnings (PE) ratio of 28.58, earnings per share (EPS) of Rs 8.46 and price to book value (PB) of 5.58, while the return on equity (ROE) stood at Rs 27.58.

Promoter/ FII Holding
The promoters held 51.52 per cent stake in the company as of July 01, while FII and MF ownerships stood at 21.45 per cent and 5.84 per cent, respectively.

Key Financials
With a market capitalisation of Rs 70985.71 crore, the company operates in the Auto - Cars/UV/CV industry. For the quarter ended 31-Mar-2024, the company reported consolidated sales of Rs 13613.29 crore, up 22.43 per cent from the previous quarter?s Rs 11119.45 crore and up 2.87 per cent from the same quarter a year ago. The company reported net profit of Rs 853.41 crore for the latest quarter, up 13.41 per cent from the corresponding quarter last year.

Technical Indicators
The relative strength index (RSI) of the stock stands at 62.9. 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. 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.