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    MRF Ltd. shares down 1.2% as Nifty drops


    A total of 246 shares changed hands on the counter till 12:10PM (IST).

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    Nifty on Wednesday halted a falling spree and formed a bullish candle on the daily chart.

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    NEW DELHI: Shares of MRF Ltd. traded 1.2 per cent down in Monday's trade at 12:10PM (IST). Around 246 shares changed hands on the counter.

    The counter opened at Rs 59069.65 and touched an intraday high and low of Rs 59069.65 and Rs 58012.4, respectively, in the session so far. The stock of MRF Ltd. quoted a 52-week high of Rs 73500.0 and a 52-week low of Rs 50000.0.

    Total market cap of the MRF Ltd. stood at Rs 24651.22 crore at the time of writing this report.

    Key Financials
    The company reported consolidated sales of Rs 2460.7 crore for the quarter ended 30-Jun-2020, down 33.23 per cent from previous quarter's Rs 3685.16 crore and down 44.96 per cent from the year-ago quarter's Rs 4470.82 crore.

    The net profit for latest quarter stood at Rs 13.46 crore, down 95.07 per cent from the corresponding quarter last year.

    Shareholding pattern
    As of 30-Jun-2020, domestic institutional investors held 11.52 per cent stake in the company, while foreign institutional investors held 6.25 per cent and the promoters 27.31 per cent.

    Valuation ratio
    According to BSE data, the stock traded at a P/E multiple of 21.2 and a price-to-book ratio of 2.27. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.

    MRF Ltd. belongs to the Tyres & Tubes industry.
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