MRF shares up 1.36% as Sensex falls

Shares of MRF Ltd. gained 1.36 per cent to Rs 67900.0 in Tuesday's session as of 11:21AM (IST) even as the equity benchmark Sensex traded 231.39 points lower at 60380.35.

Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 87579.85 and a 52-week low of Rs 62944.5 on NSE. Around 108 shares changed hands on the counter till 11:21AM (IST).

The stock opened at Rs 67499.9 and has touched an intraday high and low of Rs 67900.0 and Rs 67300.0 during the session so far. The stock quoted a price-to-earnings (PE) ratio of 34.34, earnings per share (EPS) of Rs 1971.59 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 April 05, 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 28717.78 crore, the company operates in the Tyres & Tubes industry. For the quarter ended 31-Dec-2021, the company reported consolidated sales of Rs 4989.67 crore, down 0.14 per cent from the previous quarter?s Rs 4996.63 crore and down 6.05 per cent from the same quarter a year ago. The company reported net profit of Rs 149.39 crore for the latest quarter, down 71.3 per cent from the corresponding quarter last year.

Technical Indicators
The relative strength index (RSI) of the stock stands at 56.12. 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.