MRF rises 0.59% as Sensex climbs

MRF rises 0.59% as Sensex climbs
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Synopsis

The stock traded at a P/E multiple of 33.88, while the price-to-book value ratio stood at 2.6.

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Nagaraj Shetti, Technical Research Analyst at HDFC Securities, believes Monday's pattern could be considered as a High Wave, which reflects high volatility in the market at swing highs.
Shares of MRF Ltd. traded at Rs 66732.15 on BSE at 12:53PM (IST) on Wednesday, up 0.59 per cent from previous close.

The scrip quoted a 52-week low price of Rs 62944.5 and a high of Rs 90245.0.

Earlier, shares of the company saw a gap up opening in the morning.

A total of 147 lakh shares changed hands on the counter till 12:53PM (IST).

The stock of MRF Ltd. commanded a market value of Rs 28330.84 crore, according to BSE.

The stock traded at a price-to-earning (P/E) multiple of 33.88, while the price-to-book value ratio stood at 2.6. Return on equity (ROE) was at 9.52 per cent, according to exchange data.

In the BSE500 pack, 426 stocks traded in the green, while 74 stocks were in the red.

The stock's beta value, which measures volatility in relation to the broader market, stood at 0.81.

Promotor/FII Holding
Promoters held 27.45 per cent in MRF Ltd. as of 31-Dec-2021 while overseas and domestic institutional investors owned 14.58 per cent and 6.87 per cent, respectively.

Moving averages
The 200-DMA of the stock stood at 77090.51 on March 09, while the 50-DMA was at 70347.83. If a stock trades below 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades below 50-DMA and 200-DMA, it is considered as bearish trend and if trades between 50-DMA and 200-DMA, then it suggests the stock can go either way.

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