Share price of MRF Ltd. rises as Nifty strengthens

Share price of MRF Ltd.  rises  as Nifty  strengthens

Shares of Ltd. gained 0.28 per cent to Rs 82446.55 in Thursday’s trade as of 11:53AM (IST). The stock hit a high price of Rs 83064.05 and low of Rs 82200.05 during the session.

The return on equity (ROE) for the stock stood at 11.64 per cent. Traded volume on the counter stood at 11:53AM shares and turnover at Rs 2.3 crore around that time. The stock of MRF Ltd. quoted a 52-week high price of Rs 98575.9 and 52-week low prices of Rs 54509.95, respectively.

The stock’s Beta value, which measures its volatility in relation to the broader market, stood at 0.81.

Promotor/FII Holding

Promoters held 27.31 per cent stake in the company as of 31-Dec-2020, while foreign investors held 12.67 per cent and domestic institutional investors had 7.87 per cent.

Key Financials

The company reported consolidated sales of Rs 4705.22 crore for the quarter ended 31-Dec-2020, up 9.7 per cent from previous quarter’s Rs 4289.08 crore and up 13.39 per cent from the year-ago quarter’s Rs 4149.76 crore. Net profit after tax for the latest quarter stood at Rs 520.54 crore, up 115.71 per cent from the same quarter a year ago.

The MACD signalled a bearish bias on the counter. The MACD is known for signalling trend reversals in traded securities or indices.

It is the difference between the 26-day and 12-day exponential moving averages. A nine-day exponential moving average, called the signal line, is plotted on topof the MACD to reflect “buy” or “sell” opportunities. When the MACD crosses below the signal line, it gives a bearish signal, indicating that the price of the security may see a downward movement and vice versa.

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