MRF jumps after decent Q3 outcome

MRF rose 5.75% to Rs 24,300 at 15:09 IST on BSE after net profit rose 1.29% to Rs 230.22 crore on 9.71% increase in total income to Rs 3,357.03 crore in Q3 June 2014 over Q3 June 2013.

The result was announced during trading hours today, 23 July 2014.

Meanwhile, the BSE Sensex was up 104.19 points, or 0.40%, to 26,129.99.

On BSE, so far 7,844 shares were traded in the counter, compared with an average volume of 1,332 shares in the past one quarter.

The stock hit a high of Rs 24,550 and a low of Rs 22,432.70 so far during the day. The stock hit a record high of Rs 24,666 on 10 June 2014. The stock hit a 52-week low of Rs 12,350.05 on 6 August 2013.

The stock had underperformed the market over the past one month till 22 July 2014, falling 0.91% compared with 3.67% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 5.03% as against Sensex's 14.36% rise.

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 various countries worldwide.

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