MRF hits 52-week low of Rs 73,111 on margin concerns; dips 9% in 3 weeks

The stock down 3% to Rs 73,111 on the BSE in intra-day trade today has fallen below its previous low of Rs 73,756 touched on December 22, 2020.

SI Reporter Mumbai
MRF hits 52-week low on margin concerns

Shares of MRF hit a 52-week low of Rs 73,111 on Monday, down 3 per cent on the BSE, in otherwise firm market on margin concerns. The stock of the rubber products-maker has dipped below its previous low of Rs 73,756 hit on December 22, 2020. In comparison, the S&P BSE Sensex was up 0.78 per cent at 57,554 points at 01:30 pm. In the past three weeks, MRF hs tanked 9 per cent after reporting a disappointing set of numbers for the quarter ended September 2021 (Q2-FY22). The company’s standalone net profit slipped 54.5 per cent year on year (YoY) at Rs 184 crore, impacted by raw material cost inflation and higher other cost during the period under review.

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First Published: Nov 29 2021 | 1:52 PM IST

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