In July 2023, Ashok Leyland share gave a weekly breakout, it was a cup and handle breakout. After that it retested the level in October, and it might give fresh upward movement in coming months. Ashok Leyland share closed at 174.95 on 5th November, below I will discuss about the fundamental of the stock briefly.
Ashok Leyland Fundamentals
As per Finology Ashok Leyland has a market cap of more than 50000 crores, promoter are holding 51.53% of shares. It has 500+ crores of cash reserves and 3100+ crores of debt. Post pandemic sales of the company is growing, in Mar 2023 net sales was 36144.14 crores which is decently higher than Mar 2019, but net profit is less in mar 2023 if we compare it to Mar 2019.
Summary
Although company has good past history of growth, Ashok Leyland’s market share has decreased marginally, and on the other hand FII has increased their holdings in last 3 months by 3.47% as per Tickertape. Currently share is at buying level and if in future company perform as per their previous track record share price of Ashok Leyland can see slow but decent growth.
IMPORTANT NOTE – I am not a SEBI registered financial advisor and my all share research is only for educational purpose. Please take advice from your financial advisor before buying any stocks. I may or may not hold the stocks which I share on my website, if I hold the stocks I could sell them tomorrow or keep them for 10-20 years, it is totally depend on my risk taking ability.
