Ashok Leyland Shares Rise For Third Day; Bonus Share Allotment In Focus
Ashok Leyland's allotment committee will determine shareholder eligibility on July 16, with the bonus shares becoming available for trading on July 18.
Ashok Leyland Ltd.'s share price extended gains to a third day as market participants awaited the allotment of bonus share issuance, scheduled on July 17. The company has allotted bonus shares in the ratio of 1:1.
The company's allotment committee will determine shareholder eligibility on July 16, with the bonus shares becoming available for trading on July 18 post allotment, according to an exchange filing on Wednesday.
In June, Ashok Leyland's auto sales rose 3% year-on-year to 15,333 units. Its domestic sales fell 1% on the year to 14,184 units, the company said last week.
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Ashok Leyland Share Price Today
The share price of Ashok Leyland rose 1.24% to Rs 254 apiece. The share price was trading 0.34% higher at Rs 251.75 apiece as of 10:24 a.m., as compared to a 0.24% decline in the NSE Nifty 50.
Ashok Leyland rose to a 52-week high of Rs 264.65 apiece on Aug. 27, 2024, and fell to a 52-week low of Rs 191.86 apiece on April 7 this year.
The stock advanced 11.39% in 12 months, and 14.15% on year-to-date basis. Total traded volume so far in the day stood at 1.8 times its 30-day average. Relative strength index was at 69.25.
Out of 44 analysts tracking the company, 34 maintain a 'buy' rating, seven recommend a 'hold' and three suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies an upside of 6.1%.
