Sell MRF, target price Rs 97000: Motilal Oswal

Motilal Oswal Financial Services has sell call on MRF Ltd. with a target price of Rs 97000. The current market price of MRF Ltd. is Rs 108239.6.

MRF Ltd., incorporated in the year 1960, is a Large Cap company (having a market cap of Rs 45904.94 Crore) operating in Tyres sector.

MRF Ltd. key Products/Revenue Segments include Automobile Tubes, Others, Scrap, Sale of services, Other Operating Revenue for the year ending 31-Mar-2023.



Financials
For the quarter ended 30-09-2023, the company reported a Consolidated Total Income of Rs 6287.82 Crore, down -3.49 % from last quarter Total Income of Rs 6514.98 Crore and up 6.51 % from last year same quarter Total Income of Rs 5903.38 Crore. Company reported net profit after tax of Rs 586.66 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 27.75 per cent stake in the company as of 30-Sep-2023, while FIIs owned 19.58 per cent, DIIs 11.12 per cent.