Ashok Leyland bonus shares get credited to demat accounts; stock drops marginally

Ashok Leyland’s shares experienced a slight dip after the allotment of bonus shares in a 1:1 ratio, increasing the total outstanding shares. Trading commenced on the newly issued shares, which rank equally with existing ones. Technical indicators present a mixed outlook, with the RSI in neutral territory and the stock trading above its 30-day SMA, suggesting potential medium-term strength.

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