MRF shares down 0.68% as Sensex falls

Shares of MRF Ltd. fell 0.68 per cent to Rs 69575.6 in Monday's session as of 11:52AM (IST) even as the equity benchmark Sensex traded 681.83 points lower at 57962.99.

Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 98575.9 and a 52-week low of Rs 68719.9 on NSE. Around 387 shares changed hands on the counter till 11:52AM (IST).

The stock opened at Rs 70191.0 and has touched an intraday high and low of Rs 70269.1 and Rs 69325.0 during the session so far. The scrip quoted a price-to-earnings (PE) ratio of 24.41, earnings per share (EPS) of Rs 2846.71 and price to book value (PB) of 2.6, while the return on equity (ROE) stood at Rs 9.52.

Promoter/ FII Holding
The promoters held 27.9 per cent stake in the company as of February 07, while FII and MF ownerships stood at 19.25 per cent and 6.87 per cent, respectively.

Key Financials
With a market capitalisation of Rs 29466.17 crore, the company operates in the Tyres & Tubes industry. For the quarter ended 30-Sep-2021, the company reported consolidated sales of Rs 4996.63 crore, up 16.84 per cent from the previous quarter?s Rs 4276.58 crore and up 16.5 per cent from the same quarter a year ago. The company reported net profit of Rs 189.06 crore for the latest quarter, down 53.99 per cent from the corresponding quarter last year.

Technical Indicators
The relative strength index (RSI) of the stock stands at 32.3. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold condition when it is below 30. Analysts say the RSI indicator should not be seen in isolation, as it may not be sufficient to take a trading call, just the way a fundamental analyst cannot give a "buy" or "sell" recommendation using a single valuation ratio.