MRF shares down 0.24% as Nifty gains

MRF shares down 0.24% as Nifty gains
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Synopsis

The stock quoted a 52-week high price of Rs 87579.85 and low of Rs 62944.5.

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Shrikant Chouhan of Kotak Securities said Nifty50 topping the 15,800 mark was completely unexpected.
Shares of MRF Ltd. rose 0.24 per cent to Rs 65225.0 in Thursday's trade. It hit an intraday high of Rs 65800.0 and low of Rs 65025.8, respectively, during the day.

The stock quoted a 52-week high price of Rs 87579.85 and low of Rs 62944.5.

As of 12:38PM (IST), the counter saw total traded volume of 356 shares with a traded value of Rs 2.32 crore, according to NSE.

The stock had closed at Rs 65384.45 in the previous session.

The scrip has declined -0.75 per cent in the past one month till date, while the benchmark BSE Sensex has gained 5.05 per cent during the same period.

According to exchange data, the stock traded at a price-to-earnings (P/E) multiple of 33.12 while price-to-book ratio stood at 2.6. 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 27.45 per cent stake in the company as of 31-Dec-2021, while FII and MF ownership in the firm stood at 14.58 per cent and 6.87 per cent, respectively.

Key Financials
The company reported consolidated sales of Rs 4989.67 crore for the quarter ended 31-Dec-2021, down 0.14 per cent from the previous quarter's Rs 4996.63 crore and down 6.05 per cent from the year-ago quarter's Rs 4705.22 crore. Its net profit for the latest quarter stood at Rs 149.39 crore, down 71.3 per cent from the same quarter a year ago.

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