Currently, MRF Ltd has eight manufacturing facilities in South India
MRF, Ceat, Goodyear India, Apollo Tyres, JK Tyre, TVS Srichakra and Balkrishna Industries were up 1%-5%
The stock plunge resulted in a fall of company's market valuation by Rs 1,335.77 crore to Rs 19,702.23 crore
There was a marginal drop in the company's income with a concomitant increase in its consumption costs
MRF's stock has soared more than 100 times since 2001, but high input costs and cheap imports could slow down its forward march
MRF, Ceat, Goodyear India and Balkrishna Industries were trading at new highs.
While other tyre stocks surged, MRF touched a high of Rs 50,000 in intra-day trade and is the costliest stock
The stock can hit Rs 65,000 over the next two - three years, analysts say
Bayer Crop, Shree Pushkar Chem, Gulf Oil Lubricants and Atul are among 20 stocks from BSE midcap and smallcap who hit their respective record highs
Total income grew to Rs 3,481.97 cr
In past two-months, Ceat, MRF, Apollo Tyres and TVS Srichakra were down over 9% against 3% rise in Sensex.
Company expects better fiscal as CV, replacement market are growing, while PV & two-wheeler expects to revive
Meanwhile, Satish Sharma, of Apollo Tyres has been elected as vice-chairman of ATMA