HomeBusinessMRF stock price today: India’s highest priced stock hits Rs 1.5 lakh...

MRF stock price today: India’s highest priced stock hits Rs 1.5 lakh mark! | India Business News – Times of India

MRF, India’s highest-priced stock, reached a new milestone on Wednesday by hitting a share price of Rs 1.5 lakh. This comes after a 10% rally since June 2022 when the stock had hit Rs 1 lakh, marking the first time an Indian stock has achieved this feat. During Wednesday’s trading session, a total of 27,248 equity shares of MRF were exchanged on the NSE, amounting to Rs 384.6 crore, according to an ET report.Even though the stock hit a high of Rs 1.5 lakh in trade today, MRF closed the trading day at Rs 1,34,969.45, down Rs 1,509.84 or 1.11% on the Bombay Stock Exchange.
Apart from MRF, other high-priced stocks in India include Page Industries (Rs 37,770), Honeywell Automation India (Rs 37,219), 3M India (34,263), and Shree Cement (Rs 26,527).
Previously, Nestle was also among the most expensive stocks in India. However, in early January, the company split its shares in a 1:10 ratio, reducing the share price significantly.Over the past three months, MRF has delivered a 24% return, and in the last year, it has given 53% returns.
In the second quarter of FY24, MRF, a leading tyre maker, reported a remarkable growth in net profit. The bottom line surged nearly five times year-on-year to Rs 572 crore, while revenue from operations grew by 6.5% to Rs 6,088 crore.
The company’s EBITDA for the quarter more than doubled to Rs 1,129.09 crore, leading to an expansion of the operating margin by 1,038 basis points to 18.55%.

From a technical perspective, MRF’s stock is currently in the overbought zone, with a day RSI (14) of 87.1. An RSI below 30 indicates oversold conditions, while above 70 suggests overbought conditions. The MACD at 4568.2 is above its center and signal line, indicating a bullish trend.
MRF is currently trading above its 20-day, 50-day, 100-day, and 200-day simple moving averages. The stock has shown relatively low volatility, with a 1-year beta of 0.2, according to Trendlyne.

Source link



Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Recent Comments