MRF shares rise 1.11 per cent in Wednesday’s trading session

MRF shares  rise  1.11 per cent in Wednesday's trading session

Shares of Ltd. rose 1.11 per cent to Rs 83139.95 in Wednesday’s trade as of 12:56PM (IST) even as the benchmark Nifty ruled at 14856.60, up 173.1 points.

The scrip had closed at Rs 82230.65 in the previous session. The stock quoted a 52-week low of Rs 55360.35 and a high of Rs 98575.9. The company quoted a market-cap of Rs 35174.92 crore on the BSE.

On BSE, 267 shares have changed hands on the counter so far. At its prevailing price, the stock traded at 21.66 times its trailing 12-month EPS of Rs 3829.01 per share and 2.02 times its book value. The return on equity (ROE) stood at Rs 11.64.

Key Financials

For the quarter ended 31-Dec-2020, MRF Ltd. reported consolidated sales of Rs 4705.22 crore, up 13.39 per cent from the same quarter a year ago. The company reported 115.71 per cent YoY growth in net profit at Rs 520.54 crore for the latest quarter.

Technical indicators

The relative strength index (RSI) of the stock stood at Wednesday. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold 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.

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