MRF Stocks: It is said that the stock market is such a place, if the right investment is found, then the investor can become a millionaire in a short time. There are many millionaire shares in the market too who have done so. One of these shares is MRF. MRF has given returns of up to 8400 times i.e. 84350 per cent to investors since its listing in the stock market. The stock was listed on the stock market in April 1993, the day it closed at Rs 11. At the same time, on 15 February 2021, during the 27 years, this stock reached the price of 92450 rupees. At the same time, brokerage houses are also seeing growth in the stock. According to brokerage house Anand Rathi, further the stock may reach Rs 104823.
27 years journey
The full name of MRF is Madras Rubber Factory (MRF). Its foundation was laid in 1946. The company’s stock was listed on the stock market in April 1993. Then the share price was 11 rupees. Today MRF stock is the most expensive stock in the stock market. Last week, the share price had gone up from Rs 98500 to Rs 98,599.95. In 1962 MRF started making tires. In 1964, MRF tires started being exported to America. After this, in 1973, the country’s first radial tire was introduced. Today MRF has a market cap of Rs 38747 crore.
Talking about MRF’s financials, the company’s profit in the December quarter has more than doubled to Rs 520.54 crore on an annual basis. The company’s profit in the same quarter a year ago was Rs 241.32 crore. The company’s revenue in the December quarter increased to Rs 4,641.6 crore on an annual basis from Rs 4,075.75 crore in the year-ago quarter. The Board of Directors has announced a dividend of Rs 3 per share to shareholders. The company board has also approved raising Rs 1000 crore through NCDs.
Share price will increase further
According to brokerage house Anand Rathi, there may be more growth in the stock. Anand Rathi has given a target of Rs 1,04,823 for the stock. If this happens, it will be the first time that the price of a share has reached 5 digits in the domestic market. MRF is the most expensive stock in the country. According to the brokerage house, the company may see 18% CAGR growth in revenue during FY21-23. At the same time, there can be 23 percent growth in the morning. According to the brokerage, the company will see a strong recovery in production in FY22 and overall growth could be 25 per cent on an annual basis.
(Note: We have given information here based on the performance of the company’s stock and the report of the brokerage house. Given the risk in the market, take the opinion of the expert before investing.)