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MRF advances on engaging into talks for buying Kesoram Industries’ tyre unit

20 Jan 2015 Evaluate

MRF is currently trading at Rs. 39567.70, up by 119.85 points or 0.30% from its previous closing of Rs. 39447.85 on the BSE.

The scrip opened at Rs. 39799.00 and has touched a high and low of Rs. 39966.30 and Rs. 39403.60 respectively. So far 2282 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 39940.00 on 19-Jan-2015 and a 52 week low of Rs. 18639.00 on 28-Jan-2014.

Last one week high and low of the scrip stood at Rs. 39940.00 and Rs. 37950.00 respectively. The current market cap of the company is Rs. 16763.12 crore.

The promoters holding in the company stood at 27.22 % while Institutions and Non-Institutions held 18.12 % and 54.65 % respectively.

Madras Rubber Factory (MRF) is reportedly in advance discussion with BK Birla flagship Kesoram Industries to buy its main tyre unit out of the two of Birla Tyres. The deal will consolidate MRF’s manufacturing presence in the north Indian market. It will also help the MRF to expand its commercial vehicles tyre segment.

Kesoram has a debt burden of Rs 4425 crore at the end of the September 2014 quarter as per its balance sheet. The company would be able to deleverage its debt after selling its unit in Laksar, Uttrakhand.

MRF is India’s No.1 tyre manufacturing company with a turnover of Rs 14,000 crore. Currently, the company exports tyres to over 80 countries including America, Europe, Middle East, Japan, and the Pacific region. The overseas market contributes to 10-12% of the company's turnover at present.

MRF Share Price

139772.66 1020.10 (0.74%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
MRF 139772.66
Apollo Tyres 445.30
CEAT 3713.55
Balkrishna Inds. 2329.80
JK Tyres & Inds. 428.30
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