MRF shares drop 0.23% as Sensex falls

Shares of . traded 0.23 per cent lower in Thursday's session at 01:09PM (IST). The stock opened at Rs 89250.0 and has touched an intraday high and low of Rs 89333.0 and Rs 87807.3, respectively, during the session so far.

The stock quoted a 52-week high of Rs 89333.0 and a 52-week low of 62944.5. About 282 shares changed hands on the counter so far.

Benchmark Nifty50 was down 57.5 points at 17330.65, while the BSE Sensex traded 241.78 points lower at 58108.75 at the time of writing of this report.

In the Nifty pack, 20 stocks traded the day in the green, while 30 were in the red.


Key Financials
For the quarter ended 31-Mar-2022, the company reported consolidated sales of Rs 5370.83 crore, up 7.64 per cent from the previous quarter's Rs 4989.67 crore and up 10.19 per cent from the year-ago quarter. The company reported net profit of Rs 165.21 crore for the latest quarter.

Promoter Holdings
Promoters held 27.94 per cent stake in the company as of 30-Jun-2022, while FIIs held 21.93 per cent and MFs 6.21 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 72708.23 on August 04, while the 50-DMA was at Rs 75379.3. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered as bearish trend and if trades between these averages, then it suggests the stock can go either way.