Stock of Interest

Posted On: August 2, 2023

Stock Report: MRF (NSE) 01 Aug 23 

MRF, also known as Madras Rubber Factory, stands as India’s largest tyre manufacturer and a prominent multinational company in the tyre manufacturing sector. Headquartered in Chennai, Tamil Nadu, MRF’s product range encompasses various rubber items such as tyres, treads, tubes, conveyor belts, paints, and toys. With an impressive global presence, the company’s financial performance in 2023 exhibits substantial growth, boasting revenues of ₹23,261.20 crore (US$2.9 billion), operating income of ₹2,389.10 crore (US$300 million), net income of ₹769 crore (US$96 million), total assets of ₹24,369.40 crore (US$3.1 billion), and total equity of ₹14,707.70 crore (US$1.8 billion). MRF’s extensive workforce of over 18,000 employees, along with initiatives like the MRF Pace Foundation and MRF Institute of Driver Development, showcases its commitment to excellence in sports and driving education. Led by Chairman K.M. Mammen and MD Rahul Mammen Mappillai, MRF continues to lead the industry with its diversified product offerings and strong market presence worldwide. 

#xCalData predicts #MRF will continue its Bullish phase over the next five days and trend in the range of 10576349 to 101280.9. 

In comparison to the previous month, the price of the stock has experienced an increase of 2.00% indicating a bullish. 

The Stock has doubled once since 11 Jun 2015 and took an average of 1.8 years to double.  

The stock has not shown seasonality trend in the past. 

Reviewing the returns for the past 5 years for the same week, we see the stock has given negative returns in 3 years in the past. 

Majority of the technical ratios trend towards Bullish side of the spectrum. 

Collectively, xCalData suggests the stock would be in Bullish zone for next 5 days. 

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