Ashok Leyland Ltd shares down 1.74% as Nifty drops
Ashok Leyland Ltd is an Indian multinational automotive manufacturing company, headquartered in Chennai, Tamil Nadu, India. Leyland has recently been ranked as the 34th best brand in India in June 2020.
Ashok Leyland launched its new range of modular trucks, AVTR, that came with i-Gen6 BS-VI technology. Moreover, shares of Ashok Leyland Ltd traded 1.74 percent down in Thursday’s trade. Around 10,23,074 shares changed hands on the counter.
On the other side, the scrip opened at Rs. 112.00 and touched an intraday high and low of Rs. 112.75 and Rs. 107.3, respectively in the session so far. The stock of Ashok Leyland Ltd quoted a 52-week high of Rs. 138.85 and a 52-week low of Rs. 33.7.
According to BSE, the total market cap of Ashok Leyland stood at Rs. 32,320.16 crore at the time of writing this report.
The company reported consolidated sales of Rs. 6,000.28 crore for the quarter ended December 31st, 2020. While up 54.74 percent from the previous quarter Rs. 3,877.62 crore and up 15.2 percent from the year-ago quarter Rs. 5,208.53 crore.
Moreover, the net profit for the latest quarter stood at Rs. 14.24 crore, down 46.85 percent from the same quarter a year ago.
As of December 31st, 2020, DIIs held a 10.88 percent stake in the company. While foreign institutional investors held 16.17 percent and the promoters 0.0 percent.
According to BSE data, the stock traded at a price-to-earnings multiple of -64.68 and a price-to-book ratio of 1.62. A higher P/E ratio shows investors willing to pay a higher price because of better future growth expectations. Moreover, the 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.