Espresso Shot of the Day - Ashok Leyland Ltd up by 7.55 percent

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Espresso Shot of the Day - Ashok Leyland Ltd up by 7.55 percent

March 09, 2022
Espresso Shot of the Day - Ashok Leyland  Ltd up by 7.55 percent

ASHOK LEYLAND LTD 106.80  (+7.55%) BSE – INE208A01029 | 9TH MARCH 2022


Ashok Leyland, flagship of the Hinduja group, is the 2nd largest manufacturer of commercial vehicles in India, the 4th largest manufacturer of buses in the world, and the 19th largest manufacturer of trucks. Headquartered in Chennai, 9 manufacturing plants gives an international footprint – 7 in India, a bus manufacturing facility in Ras Al Khaimah (UAE), one at Leeds, United Kingdom and a joint venture with the Alteams Group for the manufacture of high-press die-casting extruded aluminum components for the automotive and telecommunications sectors, Ashok Leyland has a well-diversified portfolio across the automobile industry. Ashok Leyland was recently ranked as the 34th best brand in India. Ashok Leyland launched India’s first electric bus and Euro 6 compliant truck in 2016. Over 70 million passengers use Ashok Leyland buses to get to their destinations every day and these trucks keep the wheels of the economy moving. With the largest fleet of logistics vehicles deployed in the Indian Army and significant partnerships with armed forces across the globe, Ashok Leyland helps keep borders secure.


Recent Drivers

  • On Mar 7, 2022, the company stepped up presence in Karnataka by setting up four dealerships in the region.
  • On Mar 1, 2022, the company reported a 7% rise in commercial vehicle sales to 14,657 units in February.
  • On Feb 21, 2022, the company planned to set up a new manufacturing facility in the country to roll out electric vehicles
  • On Feb 14, 2022, the company planned to raise around $200-300 million to fund the expansion and technology investments in its electric vehicle arm Switch Mobility.
  • On Feb 12, 2021, the company reported net sales of Rs.5, 503.64 crores.
  • On Feb 12, 2021, the company reported a profit of Rs.5.76 crores
  • On Feb 7, 2022, the company reported that it will supply 200 trucks to the Bangladesh government as part of a USD 2-billion line of credit announced by Prime Minister Narendra Modi.
  • On Jan 12, 2022, Ashok Leyland and Aidrivers joined hands for the development of AI-enabled autonomous vehicles to meet the needs for a sustainable future
  • On Dec 27, 2021, the company entered the used vehicles business by tying up with Shriram Automall India Limited (SAMIL)
  • On Dec 23, 2021, the company launched a new truck called AVTR 3120.
  • On Dec 15, 2021, Ashok Leyland collaborated with Combat Vehicles Research and Development Establishment (CVRDE), to develop and manufacture 600-HP indigenous engine to power futuristic combat vehicles under the Atmanirbhar Bharat mission.
  • On Dec 15, 2021, Ashok Leyland's electric vehicle arm Switch Mobility announced that it will be setting up a new manufacturing and technology centre in Castilla y León, Spain, and invest about €100 million in the region over the next decade.
 (Sources:  Business standard, Moneycontrol, Business Lines, Economic Times)


Technical Force*                                                                                      

  • S&P BSE 100 month till date gain up by -2.68%
  • Spurt in Volume by more than 2.41 times compared to the previous vol. 3 months avg. volume: 1,117,397
  • Quantity traded: 26,70,693 | Deliverable Quantity: 7,22,467 (27.05%)
  • Stock price has jumped more than 15% from a one-year-low level: 93.20 (Mar 09, 2022)
  • Daily RSI (14) is in Oversold territory today
  • 52-week-high: 153.40 | 52-week-low: 93.20


Key Pivot  (Yearly)

R4

R3

R2

R1

PP /FIB PP

S1

S2

S3

S4

Pivot Point

-

209.93

181.67

152.03

123.77

94.13

65.87

36.23

     -

Fibonacci Pivot

181.67

159.55

145.88

137.08

123.77

110.45

101.65

87.98

65.87


Today’s Close

106.80

SMA

BSE

10 DAY

111.36

20 DAY

120.17

50 DAY

127.61

200 DAY

128.63


Some Key Ratios (Source: BSE)

Market Cap:  31,351.43 Crores

PE: -264.86

OPM%: 5.12

ROE%: -1.84

Promoters holding%: 51.54

Prev. Close: 99.30


*Chart and Technical Force data from the Binge desktop app
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Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.