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Sell MRF, target price Rs 62,000: Kunal Bothra

Kunal Bothra recommended to keep stoploss at Rs 64,000.

ETMarkets.com|
Updated: Nov 11, 2019, 11.45 AM IST
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MRF Ltd., incorporated in the year 1960, is a Large Cap company (having a market cap of Rs 27322.40 Crore) operating in Tyres sector.
Kunal Bothra of Independent Analyst has sell call on MRF Ltd. with a target price of Rs 62000.0 . The current market price of MRF Ltd. is Rs 63274.0 Kunal Bothra recommended to keep stoploss at Rs 64000
MRF Ltd., incorporated in the year 1960, is a Large Cap company (having a market cap of Rs 27322.40 Crore) operating in Tyres sector.

MRF Ltd. key Products/Revenue Segments include Automobile Tyres which contributed Rs 14160.44 Crore to Sales Value (89.41 % of Total Sales), Automobile Tubes which contributed Rs 1152.49 Crore to Sales Value (7.27 % of Total Sales), Others which contributed Rs 421.57 Crore to Sales Value (2.66 % of Total Sales), Scrap which contributed Rs 68.00 Crore to Sales Value (0.42 % of Total Sales), Sale of services which contributed Rs 34.50 Crore to Sales Value (0.21 % of Total Sales)for the year ending 31-Mar-2019.

For the quarter ended 30-09-2019, the company has reported a Consolidated sales of Rs 4007.63 Crore, down -10.36 % from last quarter Sales of Rs 4470.82 Crore and unchanged .00 % from last year same quarter Sales of Rs Crore Company has reported net profit after tax of Rs 228.96 Crore in latest quarter. The company’s top management includes Dr.Cibi Mammen, Dr.Salim Joseph Thomas, Mr.Arun Mammen, Mr.Ashok Jacob, Mr.Jacob Kurian, Mr.K M Mammen, Mr.Rahul Mammen Mappillai, Mr.Ranjit I Jesudasen, Mr.Samir Thariyan Mappillai, Mr.V Sridhar, Mr.Varun Mammen, Mr.Vijay R Kirloskar, Mrs.Ambika Mammen, Mrs.Vimla Abraham. Company has SCA & Associates as its auditoRs As on 30-09-2019, the company has a total of 4,241,143 shares outstanding.

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Disclaimer: This recommendation is analyst's own and does not represent those of economictimes.com & ETMarkets.com. Please consult your financial advisor before taking any position in the stock/s mentioned.

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