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MRF inventory value at present: India’s highest priced inventory hits Rs 1.5 lakh mark! | India Enterprise Information – Instances of India



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 keeping with an ET report.Regardless that the inventory hit a excessive of Rs 1.5 lakh in commerce at present, 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 Alternate.
Other than 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. Nonetheless, in early January, the corporate cut 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 yr, it has given 53% returns.
Within the second quarter of FY24, MRF, a number one tyre maker, reported a outstanding development in web revenue. The underside line surged practically 5 occasions 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 the moment 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 the moment 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 keeping with Trendlyne.

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