MRF extends Thursday's slide after weak Q1 results

MRF lost 1.24% to Rs 19,120 at 11:54 IST on BSE, with the stock extending Thursday's 2.49% slide triggered by the company reporting weak Q1 earnings.

Meanwhile, the S&P BSE Sensex was up 93.51 points or 0.46% at 20,404.25.

On BSE, so far 2,578 shares were traded in the counter as against average daily volume of 3,158 shares in the past one quarter.

The stock hit a high of Rs 19,250 and a low of Rs 18,890 so far during the day. The stock had hit a 52-week low of Rs 11,011 on 1 March 2013. The stock had hit a record high of Rs 20,235 on 20 December 2013.

The stock had outperformed the market over the past one month till 6 February 2014, advancing 0.45% compared with the Sensex's 2.29% fall. The scrip had also outperformed the market in past one quarter, jumping 17.66% as against Sensex's 2.8% fall.

The mid-cap company has equity capital of Rs 4.24 crore. Face value per share is Rs 10.

Shares of MRF have fallen 3.69% in two trading sessions from Rs 19854.50 on 5 February 2014, after the company during market hours on Thursday, 6 February 2014 reported weak Q1 December 2013 earnings. The stock had fallen 2.49% to settle at Rs 19359.65 on Thursday, 6 February 2014.

MRF's net profit declined 0.2% to Rs 179.89 crore on 5.7% growth in net sales to Rs 3197.12 crore in Q1 December 2013 over Q1 December 2012.

MRF manufactures the largest range of tyres in India and exports to various countries worldwide.

Powered by Capital Market - Live News