Shares of MRF fall as Nifty drops

Shares of MRF Ltd. slipped 4.66 per cent to Rs 83628.8 in Wednesday's trade as of 02:10PM (IST). It hit a high of Rs 87240.1 and low of Rs 82615.4 during the session.

The stock quoted a 52-week high price of Rs 89333.0 and a low of Rs 62944.5. The return on equity for the stock stood at 4.76 per cent. About 936 shares have changed hands on the counter so far.

The stock's beta value, which measures its volatility in relation to the broader market, stood at 0.81.


The scrip has been an underperformer, up 4.52 per cent in the past one year in comparison with a 8.02 per cent gain in Sensex.

Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 62944.5 on August 10, while the 50-DMA was at Rs 76040.68. If a stock trades well above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

Promoter/FII Holding
Promoters held 27.49 per cent stake in MRF Ltd. as of 30-Jun-2022. Mutual funds and foreign institutional investors held 6.21 per cent and 16.05 per cent stake.