MRF, India’s highest-priced inventory, reached a brand new milestone on Wednesday by hitting a share value of Rs 1.5 lakh. This comes after a ten% rally since June 2022 when the inventory had hit Rs 1 lakh, marking the primary time an Indian inventory has achieved this feat. Throughout Wednesday’s buying and selling session, a complete of 27,248 fairness shares of MRF have been exchanged on the NSE, amounting to Rs 384.6 crore, in accordance with an ET report.Despite the fact that the inventory hit a excessive of Rs 1.5 lakh in commerce right this moment, MRF closed the buying and selling day at Rs 1,34,969.45, down Rs 1,509.84 or 1.11% on the Bombay Inventory Trade.
Aside from MRF, different high-priced shares in India embrace Web page Industries (Rs 37,770), Honeywell Automation India (Rs 37,219), 3M India (34,263), and Shree Cement (Rs 26,527).
Beforehand, Nestle was additionally among the many costliest shares in India. Nevertheless, in early January, the corporate break up its shares in a 1:10 ratio, lowering the share value considerably.Over the previous three months, MRF has delivered a 24% return, and within the final 12 months, it has given 53% returns.
Within the second quarter of FY24, MRF, a number one tyre maker, reported a outstanding progress in internet revenue. The underside line surged practically 5 instances year-on-year to Rs 572 crore, whereas income from operations grew by 6.5% to Rs 6,088 crore.
The corporate’s EBITDA for the quarter greater than doubled to Rs 1,129.09 crore, resulting in an growth of the working margin by 1,038 foundation factors to 18.55%.
Aside from MRF, different high-priced shares in India embrace Web page Industries (Rs 37,770), Honeywell Automation India (Rs 37,219), 3M India (34,263), and Shree Cement (Rs 26,527).
Beforehand, Nestle was additionally among the many costliest shares in India. Nevertheless, in early January, the corporate break up its shares in a 1:10 ratio, lowering the share value considerably.Over the previous three months, MRF has delivered a 24% return, and within the final 12 months, it has given 53% returns.
Within the second quarter of FY24, MRF, a number one tyre maker, reported a outstanding progress in internet revenue. The underside line surged practically 5 instances year-on-year to Rs 572 crore, whereas income from operations grew by 6.5% to Rs 6,088 crore.
The corporate’s EBITDA for the quarter greater than doubled to Rs 1,129.09 crore, resulting in an growth of the working margin by 1,038 foundation factors to 18.55%.
From a technical perspective, MRF’s inventory is at present within the overbought zone, with a day RSI (14) of 87.1. An RSI beneath 30 signifies oversold situations, whereas above 70 suggests overbought situations. The MACD at 4568.2 is above its middle and sign line, indicating a bullish development.
MRF is at present buying and selling above its 20-day, 50-day, 100-day, and 200-day easy transferring averages. The inventory has proven comparatively low volatility, with a 1-year beta of 0.2, in accordance with Trendlyne.
