MRF gained 2.36% to Rs 4650 at 14:38 IST after the company signed a memorandum of understanding with the Tamil Nadu government for setting up a new radial tyre facility at an investment of Rs 900 crore.
The stock hit a high of Rs 4850 and a low of Rs 4524 so far during the day. The stock had a 52-week high of Rs 8955.55 on
The company’s current equity is Rs 4.24 crore. Face value per share is Rs 10. The current price of Rs 4650 discounts its Q2 March 2008 annualised EPS of Rs 619.06, by a
PE multiple of 7.51.
The company will initially invest Rs 900 crore for ramping its radial tyre capacity by 3,50,000 radial tyres with a plan to double the capacity to 7,00,000 tyres in the second phase, at Perambulur, Trichy. This facility has been planned to provide a major thrust to production capacity, especially passenger and truck radials to keep pace with the rising demand in the automobile industry, MRF said.
MRF’s net profit rose 83.6% to Rs 65.62 crore on 12.1% growth in net sales to Rs 1214.83 crore in Q2 March 2008 over Q2 March 2007.
MRF manufactures the largest range of tyres in
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