Ashok Leyland shares gain 2.28% as Sensex rises

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Sensex  falls! But these  stocks rallied over 15% on BSE in today's trade


Shares of . traded 2.28 per cent up at Rs 168.35 at 10:05AM (IST) on Tuesday, even as BSE benchmark Sensex gained 9.72 points to 59255.7.

The stock had closed at Rs 164.6 in the previous session. The stock quoted a 52-week high price of Rs 169.4 and 52-week low of Rs 93.2, respectively. As per BSE data, total traded volume on the counter till 10:05AM (IST) stood at 486442 shares with a turnover of Rs 8.12 crore.

At the prevailing price, shares of the company traded at -2961.02 times its trailing 12-month earnings per share of Rs -0.06 per share and 4.71 times its price-to-book value, exchange data showed.



A higher P/E ratio shows investors are willing to pay a higher share price today because of growth expectations in the future.

Price-to-book value indicates the inherent value of a company and reflects the price investors are ready to pay even for no growth in the business. The stock’s Beta value, which measures its volatility in relation to the broader market, stood at 1.55.

Shareholding Details

Promoters held 0.0 per cent stake in the company as of 30-Jun-2022, while FIIs owned 14.91 per cent and DIIs 14.81 per cent.

Technicals

On the technical charts, the relative strength index (RSI) of the stock stood at 73.95. 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. Chartists say, RSI should not be seen in isolation, as it may not be sufficient to take a trading call, just the way fundamental analysts cannot give a’buy’ or’sell’ recommendation using a single valuation ratio.



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