Price. At 18,694.55, the NIFTY, the index of the NSE, is up 93.05 percent
Due to MRF’s incredibly small equity basis of Rs 4.24 crore, its share price has increased dramatically. It is owned by the promoter group to the tune of 27.84%. The corporation distributed Rs 175 per share (1,750%) as a dividend year 2022–2023.
After the tyre maker reported its 2022–23 results in May, it was anticipated that its share price would surpass Rs 1 lakh. It’s the fourth quarter.
Net profit increased by 163 percent to Rs 410.66 crore from Rs 156.78 crore in the same period the year prior. Half of the net profit of Rs 816 crore for the entire year was generated in the fourth quarter. The MRF share price increased 2% (Rs 4,908.10) that day to end at Rs 93,505, indicating a potential surge above the Rs 1,000,000 high-bar.
The corporation has credited “easing of raw material prices” for the successful outcomes. Rahul Mammen Mapillai, the company’s managing director, stated to business line that “the reduction in commodity prices has led to a decline in raw material cost for this quarter, which helped to improve our profitability.”
