MRF share price breached the historic Rs 1 lakh-mark, reaching Rs 1,00,439.95 before sliding below Rs 1 lakh.
The surge in MRF's share price is attributed to its low equity base of Rs 4.24 crore and positive market sentiments.
MRF announced a fourth-quarter net profit of Rs 410.66 crore, a rise of 163 percent compared to the previous year.
The company paid a dividend of Rs 175 per share (1,750 percent) for the financial year 2022-23.
The market responded positively to MRF's fourth-quarter results, with a 2 percent increase in the share price.
The reduction in raw material prices contributed to MRF's improved profitability.
Crossing the Rs 1 lakh-mark showcases MRF's financial strength and investor confidence.
The achievement serves as a catalyst for future growth and development for MRF.
Investors and stakeholders are optimistic about the future performance and potential opportunities for capital appreciation.
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