India’s highest-priced stock MRF, which had hit the Rs 1 lakh share price mark in June last year, hit another milestone of Rs 1.5 lakh on Wednesday after a 10% rally. This is the first time that an Indian stock has achieved this milestone. In Wednesday’s trade, MRF stock witnessed a total of 27,248 equity … Read more
The stock market has historically performed well during the festive season. Typically, increased consumer spending during the Diwali season tends to boost company revenues and profits, which results in higher stock prices. The positive sentiment and overall favorable optimism around the festivities drive investor confidence in the market. This often leads to increased buying and … Read more
In a classic case of slip between the cup and the lip as the tyre stock MRF fell short of just Rs 66.50 to hit the Rs 100,000 mark. The stock of this Chennai-based company hit its 52-week high of Rs 99,933.50 on the NSE on Monday in intraday trade before ending in the red. … Read more
The Nifty has closed below its short-term moving average and the broader price structure. According to technical analysts, these indicate a possibility of a bearish head and shoulder pattern formation. Hence, upside momentum is expected only above the 18,267 level, while the index can witness selling if 18,042 is broken. Stocks such as Siemens, ABB, … Read more
“Yes, the Bank Nifty has given up the support area of 43,000 on a closing basis in Friday’s session. And now looking at the data setup, we believe that if it continues to remain below the 43,000 level, then we may see another round of selling pressure in the coming trading session,” says Rajesh Palviya, … Read more
Buoyed by 86% year-on-year (YoY) rise in profit in the March quarter, shares of tyre manufacturer MRF have rallied around 8% in just 2 sessions, raising hopes that the stock price may cross the coveted Rs 1 lakh mark. After ending Wednesday’s session with a 5.6% rally, MRF shares were trading 1.8% higher at Rs … Read more
MRF on Wednesday reported a consolidated profit after tax (PAT) of Rs 313.53 crore for the fourth quarter ended March 2023, up 86% year-on-year (YoY). In the same quarter last year, it had posted a net profit of Rs 168.53 crore. Its consolidated revenue from operations stood at Rs 5,841.7 crore in Q4 FY23, up … Read more
Tyre manufacturing company declared an interim dividend of Rs 3 per share for the financial year 2022-23. The company has fixed February 21 as the record date for the purpose of payment of the dividend. This is the second interim dividend for the current fiscal and will be paid on March 6. The company’s net … Read more
Shares of 2/3-wheeler major dropped over 4% to Rs 3,595.5 in Thursday’s intraday trade on the BSE after the company reported a 19.3% fall in November sales. Sales of Bajaj Auto stood at 3.06 lakh units in November 2022 against 3.79 lakh units in November 2021. Its exports also fell 30% to 1.53 lakh units … Read more