MRF stock price surpasses ₹1-lakh mark intraday
The Hindu
MRF stock hits ₹1-lakh mark intraday
Tyre major MRF Ltd. saw its share price climb above the ₹1 lakh mark in intraday trading on the BSE and NSE on Tuesday, making it the first Indian stock to trade above the six-figure mark.
The stock touched a new intraday high of ₹1,00,300 on the BSE, before paring some gains to end the day 1.02% higher at ₹99,950.65. On the NSE, MRF touched an intraday peak of ₹1,00,439.95.
Apart from making tyres, the 76-year-old MRF also has business interests in paints, sports goods, rally sports and toys. As of March, the promoters owned 27.8% of the company’s 4.24 crore equity shares bearing a face value of ₹10 each, with the rest held by the public.
The company ended FY23 with a revenue of ₹22,578 crore and net profit of ₹816 crore. The company’s board has recommended a dividend of ₹175 per share. As of Tuesday, the market capitalisation stood at ₹42,390 crore, according to the BSE website.
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