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Tyre Manufacturing Stock Crashes ₹4800! Experts Predict 30% Further Fall

MRF Ltd (NSE: MRF) Share Crashes: In the turbulent rise in the stock market, the share of a tire manufacturing firm, MRF Limited was badly shattered on Friday.

The stock dropped over 3 percent, and the price dropped by approximately Rs 4,800. In the same way, the stock brokerage estimates that the stock could go lower to the low point of 97,000 rupees.

In such a scenario it is best to sell the stock since it will likely fall by approximately 30 percent. However, Kotak Institutional said increasing market share is a positive indication for MRF.

Share Status

The closing date of MRF Limited’s stock was Rs 1,40,287. It dropped to a low of 1,35,500 rupees on Friday. This means that the stock saw a decrease of around 4,800 rupees.

In February 2024 this stock was trading at an amount of Rs 1,51,283. This is the 52-week peak that the share has reached.

The 52-week low of this stock is Rs 1,04,750. The price was recorded on 14 August 2023.

How Were The Quarterly Results?

MRF’s profits in its first quarter of the financial year 2024-25 fell by 3 percent year-on-year, to Rs 571 crore. MRF’s profit for the initial (April-June) period of fiscal year 2023-24 was Rs 589 crore.

The total earnings during this time were increased to Rs 7,280 crore. In the same period as last year, the figure was Rs 6,515 crore.

Bumper Jump In Sensex

The 30-share Sensex closed at 79,705.91 points and gained by 819.69 points, or 1.04 percent. The Sensex began the day with a gain and, at one point during trading, it rose in value to 1,098.02 points.

The market was in the green as investors bought shares of major firms such as Reliance Industries and Infosys amid the rise of the global market.

As a result, the capitalizations of companies that are listed on BSE have increased by Rs 4,46,308.99 crore to Rs 4,50,21,816.11 crore.

MRF Ltd Stock Performance

Current Price ₹ 1,36,912
52-wk High ₹ 1,51,445
52-wk Low ₹ 1,04,751
5 Days Return -0.33%
1 Month Return 4.83%

Key Fundamentals Parameters

Market Cap ₹ 58,051 Cr.
Stock P/E 28.1
Book Value ₹ 39,384
Dividend 0.15 %
ROCE 16.1 %
ROE 12.6 %
Face Value ₹ 10.0
P/B Value 3.48
OPM 16.5 %
EPS ₹ 4,865
Debt ₹ 2,822 Cr.
Debt to Equity 0.17

MRF Ltd Share: Last 5 Years’ Financial Condition

Last 5 Years’ Sales:

2020 ₹ 16,237 Cr
2021 ₹ 16,162 Cr
2022 ₹ 19,317 Cr
2023 ₹ 23,008 Cr
2024 ₹ 25,925 Cr

Last 5 Years’ Net Profit:

2020 ₹ 1,423 Cr
2021 ₹ 1,277 Cr
2022 ₹ 669 Cr
2023 ₹ 769 Cr
2024 ₹ 2,064 Cr

Disclaimer: The information on this site is only for informational and educational purposes and shouldn’t be considered financial advice or stock recommendations. 

careermotto

A self-motivated and hard-working individual, I am currently engaged in the field of digital marketing to pursue my passion of writing and strategising. I have been awarded an MSc in Marketing and Strategy with Distinction by the University of Warwick with a special focus in Mobile Marketing. On the other hand, I have earned my undergraduate degrees in Liberal Education and Business Administration from FLAME University with a specialisation in Marketing and Psychology.

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