MRF Ltd shares rose more than one percent on Monday amid an overall bullish sentiment in the market and days after auto manufacturers reported their monthly sales numbers. MRF shares climbed up by as much as Rs 839.7 or 1.3 percent to Rs 67,200 apiece during the session, before settling at Rs 66,810.1 for the day.
At the close, the stock was up by Rs 449.8 apiece or 0.7 percent for the day.
Overall, the MRF stock has gained over two percent in a week, although the three-month performance is negative, with the MRF share price sliding 9.3 percent. The one-year return on the stock too is negative with the scrip dorpping 19.3 percent.
On February 10,
MRF had reported a 71 percent year-on-year decline in consolidated profit for the quarter ended December 2021 on account of a weak operating performance. Its quarterly profit dropped to Rs 149.39 crore for the third quarter of FY22 as against Rs 520.5 crore for the corresponding period a year ago. The company's consolidated revenue from operations grew by six percent to Rs 4,920.1 crore on a year-on-year basis.
Indian equity benchmarks began the week on a solid footing, with the
Nifty50 index hitting the 18,000 level for the first time in over 10 weeks.
First Published: Apr 4, 2022 3:08 PM IST
