The shares of MRF Limited, the costliest in India, reached a new 52-week high on Thursday of Rs 89,499.90. In fact, in the last five days, the stock has gained more than 6%. In the past month, the stock has added 24%.
In the month of January this year, the stocks were trading at Rs 73,367 a piece. From there it has spiked by more than 20% to reach its current level. The stock reached its previous 52-week high of Rs 88,949.95 on August 2nd, 2022.
The costliest shares of India reached their All-Time High of Rs 98,575.90 in February 2021. Currently, it is trading at a discount of 11% from its high.
The company is yet to publish its quarterly results for FY23. In a year, the company earned a total revenue of Rs 19,316 Crores in FY22 compared to Rs 16,163 crores which it earned the year before. Its net profit stood at Rs 669 Crores down from Rs 1277 crores which it earned in the year prior.
The promoters of the company hold a 27.94% stake in the company while the Foreign Institutional Investors (FIIs) hold a 16.05% stake. The company has a market capitalization of Rs 37,623 crores
Madras Rubber Factory, commonly known as MRF or MRF Tyres, is an Indian Multinational tyre manufacturing company and the largest manufacturer of tyres in India.
It has a market share of 29% in the industry as of FY21. It also has been adjudged as Number 6 among the top 10 strongest brands in the country.
It is also the only company in India to have developed formula car tyres, world-class rally tyres for tarmac & dirt, motocross tyres and also FIA-CIK karting tyres.
Written by – Anoushka Roy
The content in this news article is not investment advice. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
To stay updated with the Latest Stock Market news, download our app here!
For editorial purposes, contact firstname.lastname@example.org
Start Your Financial Learning Journey
Want to learn Stock Market and other Financial Products? Make sure to check out, FinGrad, the learning initiative by Trade Brains. Click here to Register today to Start your 3-Day FREE Trail. And do not miss out on the Introductory Offer!!