Shares of MRF crossed a first time Rs 100,000 mark, hitting a record high of Rs 100,300, up 1.4 per cent on the BSE in Tuesday’s intra-day trade. The stock surpassed its previous high of Rs 99,879.65, touched May 8, 2023.
Thus far in the current calendar year 2023 (CY23), MRF has outperformed the market by gaining 14 per cent on improved financial performance. In comparison, the S&P BSE Sensex gained 3 per cent during the period. In the past one year, the stock has rallied 46 per cent, as against a 19 per cent surge in the benchmark index, data shows.
Despite the impressive show in the recently concluded quarter and FY23, analysts prefer MRF’s peers such as Apollo