MRF flares up after Q2 net profit jumps

MRF rose 3.85% to Rs 12,780 at 14:29 IST on BSE after net profit jumped 40.29% to Rs 210.61 crore on 2.87% decline in net sales to Rs 2904.77 crore in Q2 March 2013 over Q2 March 2012.

The result was announced during trading hours today, 18 April 2013.

Meanwhile, the BSE Sensex was up 180.36 points, or 0.96%, to 18,911.52.

On BSE, 13,018 shares were traded in the counter as against an average daily volume of 2,848 shares in the past one quarter.

The stock hit a high of Rs 12,825 and a low of Rs 12,275 so far during the day. The stock had hit a 52-week high of Rs 13,850 on 9 January 2013. The stock had hit a 52-week low of Rs 9,555.65 on 31 July 2012.

The stock had outperformed the market over the past one month till 17 April 2013, sliding 3.07% compared with the Sensex's 3.58% fall. The scrip had, however, outperformed the market in past one quarter, rising 7.51% as against Sensex's 6.18% fall.

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

MRF manufactures the largest range of tyres in India and exports to over 65 countries worldwide.

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