Shares of Ashok Leyland Ltd. fall as Nifty drops

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Shares of Ashok Leyland Ltd.  fall  as Nifty  drops


Shares of Ltd. slipped 2.58 per cent to Rs 113.3 in Monday’s trade as of 02:08PM (IST). It hit a high of Rs 116.7 and low of Rs 112.5 during the session.

The stock quoted a 52-week high price of Rs 138.85 and a low of Rs 33.7. The return on equity for the stock stood at 4.33 per cent. About 827,688 shares have changed hands on the counter so far.

The stock’s beta value, which measures its volatility in relation to the broader market, stood at 1.55.

The scrip has been an outperformer, up 158.09 per cent in the past one year in comparison with a 71.97 per cent gain in Sensex.

Technicals

On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 33.7 on March 22, while the 50-DMA was at Rs 124.35. If a stock trades well above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

Promoter/FII Holding

Promoters held 0.0 per cent stake in Ashok Leyland Ltd. as of 31-Dec-2020. Mutual funds and foreign institutional investors held 10.88 per cent and 16.17 per cent stake.





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