MRF shares fall 0.6% as Nifty drops

Shares of Ltd. traded 0.6 per cent down at Rs 82636.3 on Wednesday at around 01:54PM (IST), while the benchmark BSE Sensex advanced 145.57 points to 52915.3.

As many as 706 shares changed hands on the counter with a total value of Rs 5.85 crore.

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

On the technical charts, the 200-DMA of the stock stood at Rs 78952.13, while 50-DMA was at Rs 81159.16. If a stock trades above 50 DMA and 200 DMA, it usually means the immediate trend is up. On the other hand, if the stock trades below 50 DMA and 200 DMA both, it is considered a bearish trend and if it trades between 50DMA and 200DMA, then it suggests the stock can go anywhere.

Shares of the company have advanced 28.37 per cent in the past one year, while Sensex has risen 44.58 per cent during the same period.

According to BSE data, the stock trades at a price-to-earnings multiple of 27.46 and a price-to-book ratio of 2.02. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price to book value indicates the inherent value of a company and reflects the price that investors are ready to pay even for no growth in a business. The stock belongs to the Tyres & Tubes industry.