MRF gains on bonus, stock split buzz

MRF rose 2.13% to Rs 19,481.35 at 14:14 IST on BSE on market rumours that the company may declare stock split and bonus issue.

Meanwhile, the BSE Sensex was down 149.92 points, or 0.71%, to 21,021.49.

On BSE, so far 7,538 shares were traded in the counter, compared with an average volume of 3,310 shares in the past one quarter.

The stock hit a high of Rs 19,594 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 19,046.05 so far during the day. The stock hit a 52-week high of Rs 19,594 on 12 December 2013.

The stock had outperformed the market over the past one month till 11 December 2013, rising 15.13% compared with the Sensex's 3.32% rise. The scrip had also outperformed the market in past one quarter, rising 48.71% as against Sensex's 5.87% rise.

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

MRF's net profit rose 11.73% to Rs 184.10 crore on 4.87% growth in total income to Rs 3159.80 crore in Q4 September 2013 over Q4 September 2012.

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

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