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14-Jul2017

MRF moves up on the BSE

MRF is currently trading at Rs. 69798.75, up by 157.65 points or 0.23% from its previous closing of Rs. 69641.10 on the BSE.

The scrip opened at Rs. 69715.05 and has touched a high and low of Rs. 69988.35 and Rs. 69203.80 respectively. So far 187 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 74100.00 on 13-Jun-2017 and a 52 week low of Rs. 33507.15 on 01-Aug-2016.

Last one week high and low of the scrip stood at Rs. 70774.95 and Rs. 68859.30 respectively. The current market cap of the company is Rs. 29448.91 crore.

The promoters holding in the company stood at 27.37%, while institutions and non-institutions held 20.59% and 52.04% respectively.

MRF has reportedly increased its spending on research and development (R&D) by over 250% to around Rs 200 crore in FY17. By comparison, its R&D spending was Rs 54.9 crore in the 18 months between October 2014 and March 2016. The company has initiated several projects, including on developing low rolling resistance (RR) tyres.

MRF is engaged in the manufacturing, distribution and sale of tyres for various kinds of vehicles. Its product includes tyres, conveyor belts, pretreads, paints and coats. The company offers tyre shopping, tyredrome and tyre maintenance services. It also provides an institute for driver development.


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