MRF hits 52-week low of Rs 73,111 on margin concerns; dips 9% in 3 weeks

The stock down 3% to Rs 73,111 on the BSE in intra-day trade today has fallen below its previous low of Rs 73,756 touched on December 22, 2020.

Shares of MRF hit a 52-week low of Rs 73,111 on Monday, down 3 per cent on the BSE, in otherwise firm market on margin concerns. The stock of the rubber products-maker has dipped below its previous low of Rs 73,756 hit on December 22, 2020. In comparison, the S&P BSE Sensex was up 0.78 per cent at 57,554 points at 01:30 pm.

In the past three weeks, MRF hs tanked 9 per cent after reporting a disappointing set of numbers for the quarter ended September 2021 (Q2-FY22). The company’s standalone net profit slipped 54.5 per cent year on