MRF Ltd

MRF’s stock advanced 2.21% to ₹95,600 apiece on the BSE and climbed 2.26% to ₹95,677.10 a share on the NSE

The company explained that the reason for the high growth in net profit in the fourth quarter was due to “easing of raw material prices”, compared with the previous three quarters

MRF’s standalone profit from continuing operations rose nearly 161% to ₹411 crore for the quarter

CCI had ruled that JK Tyres, CEAT, Apollo Tyres, Birla Tyres, and MRF indulged in cartelisation; slapped a cumulative penalty of ₹ 1,788 crore

The NCDs will mature in three years from the date of allotment, and the company will pay an annual coupon rate of 7.80 per cent

NCLAT had directed CCI to review its ₹1,788-crore penalty on tyre firms

Revenue from operations increased to ₹5,535 crore

Matter remanded back to CCI on a plea from top five tyre companies and their association ATMA

Reports a drop of 32% in Q2 net profit at ₹124 crore

Tyre manufacturers show interest to buy more of the industrial commodity from domestic market

Revenue from operations rises by 36 per cent to ₹5,599 crore