Shares of MRF fall as Nifty drops

Shares of MRF Ltd. slipped 0.76 per cent to Rs 81210.35 in Monday's trade as of 12:43PM (IST). It hit a high of Rs 82200.0 and low of Rs 80665.0 during the session.

The stock quoted a 52-week high price of Rs 93855.0 and a low of Rs 62944.5. The return on equity for the stock stood at 4.76 per cent. About 334 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 outperformer, up 2.55 per cent in the past one year in comparison with a 5.04 per cent fall in Sensex.

Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 62944.5 on October 03, while the 50-DMA was at Rs 84517.55. 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.