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    MRF shares down 2.35% as Nifty falls

    Synopsis

    The stock quoted a 52-week high price of Rs 98575.9 and low of Rs 55360.35.

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    tate-owned Canara Bank invited bids to sell 30 per cent stake in its housing finance subsidiary.

    INSIGHTS

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    Shares of Ltd. rose 2.35 per cent to Rs 79960.0 in Monday's trade. It hit an intraday high of Rs 81500.0 and low of Rs 79011.2, respectively, during the day.

    The stock quoted a 52-week high price of Rs 98575.9 and low of Rs 55360.35.

    As of 10:41AM (IST), the counter saw total traded volume of 329 shares with a traded value of Rs 2.63 crore, according to NSE.

    The stock had closed at Rs 81884.1 in the previous session.

    The scrip has declined -9.99 per cent in the past one month till date, while the benchmark BSE Sensex has slipped -4.53 per cent during the same period.

    According to exchange data, the stock traded at a price-to-earnings (P/E) multiple of 20.94 while price-to-book ratio stood at 2.02. A higher P/E ratio shows that investors are willing to pay a higher price for per rupee earnings given by the stock because of better future growth expectations. The price-to-book value indicates the inherent value of a company and it reflects the price investors are ready to pay even for no growth in a business.

    The stock belongs to the Tyres & Tubes industry.

    Promoter/FII Holding
    Promoters held 27.31 per cent stake in the company as of 31-Dec-2020, while FII and MF ownership in the firm stood at 12.67 per cent and 7.87 per cent, respectively.

    Key Financials
    The company reported consolidated sales of Rs 4705.22 crore for the quarter ended 31-Dec-2020, up 9.7 per cent from the previous quarter's Rs 4289.08 crore and up 13.39 per cent from the year-ago quarter's Rs 4149.76 crore. Its net profit for the latest quarter stood at Rs 520.54 crore, up 115.71 per cent from the same quarter a year ago.
    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)

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