MRF plans to induct three new independent directors

The tyre maker on Friday (24 February 2023) announced that its finance committee has allotted 15,000 non-convertible debentures (NCDs) aggregating to Rs 150 crore on a private placement basis.

MRF allots NCDs worth Rs 150 cr

MRF raises ₹150 cr. through issue of NCDs on a private placement basis

The NCDs will mature in three years from the date of allotment, and the company will pay an annual coupon rate of 7.80 per cent

MRF allots NCDs worth ₹150 cr on private placement

Akzo Nobel India shares would turn ex-dividend today. Akzo Nobel India had announced an interim dividend of Rs 25 per share. Today is also the record date for the same. The dividend will be paid on March 10.

MRF, Natco Pharma, Disa India, Cummins India, Akzo Nobel shares to go ex-dividend today

Indian Railway Catering and Tourism Corporation (IRCTC), MRF Limited, Oil and Natural Gas Corporation Limited, NMDC Limited are among the stocks that will trade ex-dividend this week.

Stocks that will trade ex-dividend this week

Revenue from operations increased to ₹5,535 crore

MRF posts 16% rise in Q3 net at ₹169 crore

Revenue from operations rose ₹5,535 crore from ₹4,830 crore.

MRF Q3 net profit rises 16% on higher sales volume

MRF Q3 results: Net profit rises 17% to Rs 175 cr; revenue increased 15% to Rs 5,645 cr

MRF announces Rs 3 dividend for every share worth Rs 89,000; memes erupt on Twitter

Other income during the quarter rose marginally at Rs 71 crore as against Rs 69 crore in the previous year period. The company’s total income rose 15% year-on-year to Rs 5,716 crore for the December quarter. The same was Rs 4,989 crore in the same quarter of last year

MRF declares 2nd interim dividend of Rs 3 per share. Check record date & other details here

Tyre maker MRF Ltd on Thursday reported a 17 per cent rise in consolidated net profit from continuing operations at Rs 174.83 crore for the third quarter ended December 31, 2022.

MRF December-quarter consolidated net profit rises 17% to Rs 174.83 crore

Price return has been average, nothing exciting

Performance

Seems to be overvalued vs the market average

Valuation

Lagging behind the market in financials growth

Growth

Showing good signs of profitability & efficiency

Profitability

The stock is overpriced but is not in the overbought zone

Current price is more than the intrinsic value

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

MRF Limited is engaged in the manufacture and sale of automotive tires, tubes and flaps, among others. The Company also manufactures rubber products, such as tread rubber and conveyor belt.

MRF Ltd