MRF shares reached a 52-week peak of INR99,933.50 ($1,356) before closing at INR97,750 ($1,324), falling short of the coveted INR100,000 mark by INR66.50 ($0.90). Over the last three trading sessions, the stock saw almost 11% growth and gains of over INR10,000 per share. MRF outperformed the Nifty50, delivering more than 37% returns compared to the 9% returned by the 50-stock index. Technical analyst Nilesh Jain said MRF was set to surpass the INR100,000 mark and could test levels of INR105,000, although he cautioned against fresh buying at higher levels.
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April 3, 2025