As the country gets ready to watch another Ind vs NZ World Cup semifinal, the hope would be that we get to see the most of Virat Kohli’s bat. The bat with the MRF logo has been associated with cricket for a while now, in early 2000s, the great Sachin Tendulkar sported the logo on his bat and even Brian Lara had one. But, since 2017, the MRF logo has found its place on Kohli’s bat, so if you had invested in this tyre company when India took New Zealand in 2019, here’s what would have happened.
The Investment: If you invested around ₹1.10 lakh in MRF on July 9, 2019 – when the first Ind vs NZ semifinal happened – you would have been able to buy around two shares of the company. Today with the MRF share price being around ₹1.08 lakh, those two shares would be worth around ₹2.16 lakh.
MRF September Earnings: The tyre giant posted a multifold surge in its net profit reaching ₹572 crore compared to ₹124 crore in the same quarter of the previous year. Revenue from operations grew 6.5% YoY to ₹6,088 crore from ₹5,719 crore.
As per the company, the enhanced profitability was primarily driven by a moderation in raw material costs, decreasing by as much as 10% in the quarter. MRF also approved an interim dividend of ₹3 per share, with a record date set for November 17.
Disclaimer: Benzinga India doesn’t give financial advice. The above article is for educational purposes alone.
Get all the latest Share Market trends and news to set you up for the week ahead.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.