MRF announced that N Kumar (DIN: 00007848) and M. Meyyappan (DIN: 00836979), Independent Directors have ceased to be Directors of the Company effective close of business hours of 28 September, 2019 consequent to their completing 5 year term.

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MRF Ltd gained for a fifth straight session today. The stock is quoting at Rs 60580, up 0.8% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.13% on the day, quoting at 11050.55. The Sensex is at 37329.51, up 0.16%. MRF Ltd has risen around 6.77% in last one month.

Meanwhile, Nifty Auto index of which MRF Ltd is a constituent, has risen around 6.95% in last one month and is currently quoting at 7423.6, down 1.23% on the day. The volume in the stock stood at 3995 shares today, compared to the daily average of 4434 shares in last one month.

The benchmark September futures contract for the stock is quoting at Rs 60677, up 0.58% on the day. MRF Ltd is down 13.76% in last one year as compared to a 4.04% drop in NIFTY and a 32.28% drop in the Nifty Auto index.

The PE of the stock is 23.05 based on TTM earnings ending June 19.

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Net profit of MRF rose 2.13% to Rs 273.27 crore in the quarter ended June 2019 as against Rs 267.56 crore during the previous quarter ended June 2018. Sales rose 15.14% to Rs 4470.82 crore in the quarter ended June 2019 as against Rs 3882.99 crore during the previous quarter ended June 2018.

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MRF will hold a meeting of the Board of Directors of the Company on 9 August 2019.

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