Trending stocks: Ashok Leyland shares slip over 3%

NEW DELHI: Shares of Ashok Leyland Ltd. traded 3.45 per cent down in Friday's trade at 10:27AM (IST). Around 363,329 shares changed hands on the counter.

The stock opened at Rs 49.85 and touched an intraday high and low of Rs 49.85 and Rs 47.2, respectively, in the session so far. The stock of Ashok Leyland Ltd. quoted a 52-week high of Rs 94.9 and a 52-week low of Rs 33.7.

Total market cap of the Ashok Leyland Ltd. stood at Rs 13929.08 crore at the time of writing this report.


Hinduja Group's flagship firm Ashok Leyland said a board panel has approved raising up to Rs 500 crore through issuance of non-convertible debentures (NCDs) on private placement basis.

Key Financials
The company reported consolidated sales of Rs 5148.15 crore for the quarter ended 31-Dec-2019, up 2.29 per cent from previous quarter's Rs 5033.06 crore and up 30.48 per cent from the year-ago quarter's Rs 7405.78 crore.

The net profit for latest quarter stood at Rs 26.79 crore, down 93.29 per cent from the same quarter a year ago.

Shareholding pattern
As of 31-Mar-2020, DIIs held 9.74 per cent stake in the firm, while foreign institutional investors held 16.8 per cent and the promoters 0.0 per cent.


Valuation ratio
According to BSE data, the stock traded at a P/E multiple of 13.5 and a price-to-book ratio of 1.42. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.

Ashok Leyland Ltd. belongs to the Auto - Cars/UV/CV industry.