Investmoneyuae

Shares of MRF, the leading tyre manufacturer in India, hit a new 52-week high of Rs 100,300 on the BSE on Tuesday. This makes MRF the first stock on Dalal Street to cross the Rs 1 lakh mark. MRF shares have been on a tear in recent months, rising more than 20% since the beginning of the year. The company's strong performance has been driven by robust demand for tyres in India and overseas. In the domestic market, MRF is the market leader in both passenger and commercial vehicle tyres. The company has also been expanding its international footprint, with a strong presence in markets such as South Africa, Sri Lanka, and Bangladesh. MRF's strong performance has been reflected in its financial results. In the financial year ended March 2023, the company reported a net profit of Rs 10,235 crore, up 18% from the previous year. Revenue for the year also rose 18% to Rs 42,522 crore. The company's strong financial performance has helped it to maintain a healthy dividend payout ratio...