MRF gains on strong Q1 earnings

MRF, a major tyre manufacturing company, gained on Friday after posting a growth of 59.64% in net profit to Rs 1.80 billion for the quarter ended Dec. 31, 2012, helped by improvement in the operating margins.

Net sales of the company rose 5.23% to Rs 30.26 billion for the quarter ended Dec. 31, 2012. During the quarter, the operating profit margin increased 363 bps to 10.37%. Shares ofthe companyare trading at Rs 13,462.10, up Rs 301.65, or 2.29% at the Bombay Stock Exchange (BSE) on Friday at 11:11 a.m.The scrip has touched an intra-day high of Rs 13,550 and low of Rs 13,249.90. The total volume of shares traded at the BSE is 3,389.In the earlier session, the shares declined 0.53%, or Rs 70.44, at Rs 13,160.45. Currently, the stock is trading down 2.8% from its 52-week high of Rs 13,850 and above 63.13% over the 52-week low of Rs 8,252.50.

Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 13,220.10 (59.65) (0.45) 1 Month 13,796.90 (636.45) (4.61) 3 Months 10,095.55 3,064.90 30.36 6 Months 10,649.85 2,510.60 23.57 1 Year 8,609.05 4,551.40 52.87 Note: Based on previous day closing price.