Ashok Leyland Share Price: Ashok Leyland shares rise 2.31% as Nifty gains

Shares of Ashok Leyland Ltd. traded 2.31 per cent up at Rs 189.65 on Tuesday at around 10:20AM (IST), while the benchmark BSE Sensex advanced 296.01 points to 74967.29.

As many as 1,163,483 shares changed hands on the counter with a total value of Rs 22.02 crore.

The stock quoted a 52-week high price of Rs 191.45 and a 52-week low of Rs 142.1.

On the technical charts, the 200-DMA of the stock stood at Rs 176.01, while 50-DMA was at Rs 172.37. If a stock trades above 50 DMA and 200 DMA, it usually means the immediate trend is up. On the other hand, if the stock trades below 50 DMA and 200 DMA both, it is considered a bearish trend and if it trades between 50DMA and 200DMA, then it suggests the stock can go anywhere.

Shares of the company have advanced 29.94 per cent in the past one year, while Sensex has risen 25.31 per cent during the same period. According to BSE data, the stock trades at a price-to-earnings multiple of 21.9 and a price-to-book ratio of 4.78. 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 reflects the price that investors are ready to pay even for no growth in a business. The stock belongs to the Auto – Cars/UV/CV industry.