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MRF rises on entering into agreement with First Energy 4 to purchase solar power

MRF is currently trading at Rs. 97231.25, up by 751.85 points or 0.78 % from its previous closing of Rs. 96479.40 on the BSE.

MRF

The scrip opened at Rs. 96536.00 and has touched a high and low of Rs. 97750.00 and Rs. 96536.00 respectively. So far 161 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 99879.65 on 08-May-2023 and a 52 week low of Rs. 65900.05 on 17-Jun-2022.

Last one week high and low of the scrip stood at Rs. 98200.00 and Rs. 95326.30 respectively. The current market cap of the company is Rs. 41237.16 crore.

The promoters holding in the company stood at 27.84 % while Institutions and Non-Institutions held 29.71 % and 42.45 % respectively.

MRF has entered into a Purchase agreement with First Energy 4 for purchase of solar power and will be acquiring upto 19.10% paid up equity of the Company, which will be held during the tenure of the power purchase agreement. The Cost of acquisition is Rs 1309 lakh which will be invested for subscribing to the equity share capital of the Company.

MRF is engaged in the manufacturing, distribution and sale of tyres for various kinds of vehicles.



This post first appeared on Daily Kiran, please read the originial post: here

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MRF rises on entering into agreement with First Energy 4 to purchase solar power

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