MRF stock has gained 900% in the last 11 years.
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The Chennai-based company’s stock had touched Rs 10,000 in February 2012 and has since gained 900%. It took more than two years to reach Rs 1 lakh from Rs 90,000. It first touched Rs 90,000 on January 20, 2021. MRF has paid dividend to its investors but has never issued bonus shares. Apart from this, the company has never done a stock split. Generally, when the share price increases, companies do share splits to benefit small investors. But MRF never did that.
export to america
The company’s stock is currently trading at 55 times PE (price to earnings) while its price to book value is 2.89 times. Its Return on Equity (RoC) is 5.35 percent and Return on Capital Employed (RoCE) is 7.94 percent. As of March 31, 2023, promoters hold 27.8 per cent stake in the company, while 72.16 per cent are held by public shareholders. Of these, FII holds 18.05 per cent and DII holds 11.66 per cent. In the March quarter, the company’s net profit stood at Rs 313.5 crore with an 86 per cent jump.
MRF had paid a dividend of Rs 169 per share. The company’s consolidated revenue in the March quarter stood at Rs 5,842 crore, up 10 per cent. Experts say that there is still a lot of power left in this stock. In the near term, it can go up to Rs 1.15 thousand and up to Rs 1.25 lakh by Diwali. According to data from Trendline, nine analysts have advised to sell this stock. MRF became the first company in India to export tires to the US in 1967. Tire was invented in America only. In 1984, the country’s first modern car, the Maruti Suzuki 800, also had MRF tyres.
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