MRF Share Price: MRF shares down 1.15% as Sensex falls

Shares of . fell 1.15 per cent to Rs 85903.1 in Monday’s session as of 12:18PM (IST) even as the equity benchmark Sensex traded 590.5 points lower at 59055.65.

Earlier in the day, the stock witnessed a gap down start to the session. The stock quoted a 52-week high price of Rs 89333.0 and a 52-week low of Rs 62944.5 on NSE. Around 543 shares changed hands on the counter till 12:18PM (IST).

The stock opened at Rs 85000.0 and has touched an intraday high and low of Rs 86800.0 and Rs 85000.0 during the session so far. The counter quoted a price-to-earnings (PE) ratio of 58.08, earnings per share (EPS) of Rs 1478.99 and price to book value (PB) of 1.96, while the return on equity (ROE) stood at Rs 4.76.

Smart Talk

Promoter/ FII Holding
The promoters held 27.94 per cent stake in the company as of August 22, while FII and MF ownerships stood at 21.93 per cent and 6.21 per cent, respectively.

Key Financials

With a market capitalisation of Rs 36432.73 crore, the company operates in the Tyres & Tubes industry. For the quarter ended 30-Jun-2022, the company reported consolidated sales of Rs 5730.37 crore, up 6.69 per cent from the previous quarter?s Rs 5370.83 crore and up 33.99 per cent from the same quarter a year ago. The company reported net profit of Rs 123.6 crore for the latest quarter, down 25.35 per cent from the corresponding quarter last year.

Technical Indicators
The relative strength index (RSI) of the stock stands at 59.15. 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.

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