MRF share price crosses Rs 1-lakh mark 

price MRF’s A share with a face value of Rs 10, breached the Rs 1 lakh mark, to touch the historic Rs 1,00,439.95, before sliding below Rs 1 lakh. At the time of writing, MRF stock is trading at Rs 99,969.95, which is Rs 1,001.40 (1.01 per cent) higher than today’s opening price. The NIFTY Index, NSE, is up by 93.05 per cent, at 18,694.55.

The reason for MRF’s price hike is its very low equity base – Rs 4.24 crore. The promoters group owns 27.84 percent of it. For the year 2022-23, the company has paid Rs 175 per share (1,750 per cent) as dividend.

The tire manufacturer’s share price has been crossing the Rs 1-lakh mark somewhat as expected, after it announced results for 2022-23 in May. Q4 Net Profit was Rs.410.66 crore, compared to Rs.156.78 crore in the corresponding quarter of the previous year – up by 163%. The fourth quarter net accounted for half of the full year net profit of Rs.816 crore. On that day, the share price of MRF rose by 2 percent (Rs. 4,908.10) to close at Rs. 93,505. – Indicating a possible jump across the Rs 1-lakh high bar.

The company attributed the good results to “easing the prices of raw materials”. said the general manager of the company, Rahul Momin Mapilai Business line The decline in commodity prices led to a lower cost of raw materials for the quarter, which helped improve our profitability.