Ashok Leyland, the second largest commercial vehicle producer in India, fell more than 2.5 percent on Tuesday after the research firm Jeffries downgraded the stock to underperform and cut its target price to Rs 22.
"Truck demand continues to slip on the back of weakness in the most critical user segments," Jeffries reasoned.
Shares slipped 2.66 percent to close at Rs 25.60 amid high volumes on Bombay Stock Exchange.
A meeting of the board of directors of the company will be held on January 24, 2013, to consider the unaudited financial results for the quarter and nine months ended December 31, 2012.
Ashok Leyland stock price
On December 01, 2015, at 13:19 hrs Ashok Leyland was quoting at Rs 93.10, down Rs 1.4, or 1.48 percent. The 52-week high of the share was Rs 99.65 and the 52-week low was Rs 43.20.
The company's trailing 12-month (TTM) EPS was at Rs 2.49 per share as per the quarter ended September 2015. The stock's price-to-earnings (P/E) ratio was 37.39. The latest book value of the company is Rs 14.40 per share. At current value, the price-to-book value of the company is 6.47.
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