India's most expensive stock MRF hits record high

MRF

13/06/2023 05:46

** Shares of MRF  MRF.NS  rise as much as 1.5% to a fresh
all-time high of 100,439.95 rupees
    ** Stock above its 50-, 100-, and 200-day exponential moving
averages since April 27, suggesting bullish bias
    ** Stock's Relative Strength Index climbs above 70 in early
trade, indicating it is overbought
    ** Stock rose nearly 7% since MRF's Q4 earnings on May 3
    ** Trading volume at ~6,400 shares, just over 0.5x the
30-day avg
    ** Average rating of ten analysts at equivalent of 'sell';
median PT is 79,200 rupees - Refinitiv data
    ** Including session's gains, stock last up 13% so far this
year

 (Reporting by Biplob Kumar Das in Bengaluru)
 ((Biplobkumar.das@thomsonreuters.com))