Ashok Leyland Ltd Share Price – NSE  /  BSE

Automobile, Mid Cap

Domestic sales stood at 14,261 units, were lower by 0.71% as compared with 14,363 units sold in the same period last year.

While total medium and heavy commercial vehicle (M&HCV) sales decreased by 4.44% to 9,519 units while total light commercial vehicle (LCV) sales increased by 3.08% to 5,421 units in June 2024 over June 2023.

Ashok Leyland is engaged in manufacture and sale of a wide range of commercial vehicles. The company also manufactures engines for industrial and marine applications, forgings and castings.

Ashok Leyland reported 19.82% jump in standalone net profit to Rs 900.41 crore in Q4 FY24 as compared with Rs 751.41 crore in Q4 FY23. Revenue from operations fell 3.08% to Rs 11,266.69 crore in Q4 FY24 as compared with Rs 11,625.67 crore posted in corresponding quarter last year.

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Ashok Leyland announced that effective 17 June 2024, the ratio between the GDRs and Shares of the Company has been changed from 60 : 1 (One GDR equivalent to 60 underlying shares) to 1:1 (One GDR is equivalent to One underlying share).

Accordingly, 59 new GDR(s) were issued by the Depositary for every 1 existing GDR held by the GDR holder(s) on the GDR Record Date viz., 10 June 2024 in line with the new ratio.

Consequent to the above ratio change, the total number of GDRs stands increased from 5,881,169 to 352,870,140.

It shall be noted that there is no change to the underlying shares / equity share capital of the Company, due to the ratio change of the GDRs.

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Ashok Leyland Ltd is up for a third straight session in a row. The stock is quoting at Rs 229.9, up 1.86% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 1.78% on the day, quoting at 23226.9. The Sensex is at 76503.7, up 1.9%. Ashok Leyland Ltd has added around 15.91% in last one month.

Meanwhile, Nifty Auto index of which Ashok Leyland Ltd is a constituent, has added around 10.26% in last one month and is currently quoting at 24396.7, up 1.5% on the day. The volume in the stock stood at 56.34 lakh shares today, compared to the daily average of 228.1 lakh shares in last one month.

The benchmark June futures contract for the stock is quoting at Rs 230.5, up 1.56% on the day. Ashok Leyland Ltd is up 50.26% in last one year as compared to a 24.64% gain in NIFTY and a 68.55% gain in the Nifty Auto index.

The PE of the stock is 24.73 based on TTM earnings ending March 24.

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Ashok Leyland Ltd lost 0.62% today to trade at Rs 224.35. The BSE Auto index is down 0.27% to quote at 55080.71. The index is up 7.71 % over last one month. Among the other constituents of the index, Eicher Motors Ltd decreased 0.61% and Bajaj Auto Ltd lost 0.55% on the day. The BSE Auto index went up 62.81 % over last one year compared to the 19.38% surge in benchmark SENSEX.

Ashok Leyland Ltd has added 13.05% over last one month compared to 7.71% gain in BSE Auto index and 2.13% rise in the SENSEX. On the BSE, 20231 shares were traded in the counter so far compared with average daily volumes of 16.13 lakh shares in the past one month. The stock hit a record high of Rs 237.9 on 03 Jun 2024. The stock hit a 52-week low of Rs 150.15 on 07 Jun 2023.

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