MRF share price crosses Rs 1-lakh mark; stock at record high

Shares of MRF made a new milestone on Dalal Street as it became the first stock to cross Rs 1-lakh mark. The stock hit a record high of Rs 100,300, up over 1% in the morning trade on the BSE. The shares have surpassed their previous high of Rs 99,879.65, touched May 8, 2023.

Thus far in CY23, the stock has outperformed the market by gaining 14% on improved financial performance. 

In comparison, the S&P BSE Sensex gained 3% during the period. In the past one year, the stock has rallied 46% as against a 19% surge in the benchmark index, data shows.

On a trailing 12-month basis, MRF shares were trading at a PE of 55.2 times earnings.

Meanwhile, the company reported a net profit of Rs 410.7 crore for the March quarter, a growth of 161.5 percent from last year, compared to Rs 157 crore.

Source: Media reports