Buy MRF, target Rs 70,500: Kunal Bothra

Independent analyst Kunal Bothra has buy call on MRF with a target price of Rs 70,500.

The current market price of MRF is Rs 67,309.90.

Time period given by the analyst is intraday when MRF price can reach defined target.

Kunal Bothra recommended to keep a stop loss at Rs 60,000.

MRF, incorporated in the year 1960, is a Large Cap company (having a market cap of Rs 28,079.19 Crore) operating in Tyres sector.

MRF key Products/Revenue Segments include Automobile Tyres which contributed Rs 13,019.27 Crore to Sales Value (88.30 per cent of Total Sales), Automobile Tubes which contributed Rs 1167.01 Crore to Sales Value (7.91 per cent of Total Sales), Others which contributed Rs 464.96 Crore to Sales Value (3.15 per cent of Total Sales), Scrap which contributed Rs 38.46 Crore to Sales Value (0.26 per cent of Total Sales), Sale of services which contributed Rs 32.42 Crore to Sales Value (0.21 per cent of Total Sales), Export Incentives which contributed Rs 20.67 Crore to Sales Value (0.14 per cent of Total Sales), Other Operating Revenue which contributed Rs .20 Crore to Sales Value (0.00 per cent of Total Sales)for the year ending 31-Mar-2017.

The company’s top management includes Dr.Cibi Mammen, Dr.K C Mammen, Dr.Salim Joseph Thomas, Mr.Ambika Mammen, Mr.Arun Mammen, Mr.Ashok Jacob, Mr.Jacob Kurian, Mr.K M Mammen, Mr.Meyyappan, Mr.N Kumar, Mr.Rahul Mammen Mappillai, Mr.Ranjit I Jesudasen, Mr.V Sridhar, Mr.Vijay R Kirloskar.

Company has SCA & Associates as its auditors.

As on 30-09-2017, the company has a total of 4,241,143 shares outstanding.