Shares of Ashok Leyland Ltd. rose by 2.2% as the BSE benchmark Sensex witnessed a significant surge of 917.2 points, reaching 71617.87 on Monday. Ashok Leyland’s stock was trading at Rs 173.5 at 11:51AM (IST), compared to its previous session settling at Rs 169.75. Despite the market volatility, the company’s shares managed to gain traction.
The stock has demonstrated a 52-week high of Rs 191.45 and a 52-week low of Rs 133.1. According to BSE data, the total traded volume on the counter was 439,905 shares, with a turnover of Rs 7.53 crore by 11:51AM (IST). These figures indicate an active market for Ashok Leyland shares.
Further analysis reveals that the company’s shares are trading at a price-to-earnings (P/E) ratio of 23.71, considering the trailing 12-month earnings per share of Rs 7.29. This implies that investors are willing to pay a higher share price today due to positive growth expectations in the future. The price-to-book value reflects the inherent worth of a company and signifies the price investors are willing to pay, even without experiencing significant growth in its business. Ashok Leyland’s price-to-book value is currently at 4.78, as per the BSE data.
To assess the stock’s volatility, the Beta value stands at 1.55, which measures its fluctuation compared to the broader market. This indicates a moderate level of volatility for Ashok Leyland shares.
In terms of shareholding distribution, promoters hold a stake of 51.53% as of December 31, 2023. Foreign institutional investors (FIIs) make up 20.48% of the ownership, while domestic institutional investors (DIIs) account for 14.54%.
Overall, Ashok Leyland’s shares experienced a 2.2% gain amidst the rise in Sensex. The company’s performance reflects investors’ positive sentiment towards its growth prospects. The stock’s trading volume and turnover also indicate active participation in the market. With a favorable P/E ratio and price-to-book value, investors seem willing to pay a higher price for Ashok Leyland shares, predicting future growth. The stock’s moderate volatility, as indicated by the Beta value, adds to its appeal.
