MRF shares fall nearly 1% amid crude oil price spike following Israel-Iran conflict
Shares of MRF Ltd slipped 0.51% to ₹1,35,690 in Friday's session as investors turned cautious amid a surge in global crude oil prices triggered by rising geopolitical tensions in the Middle East. The Israel-Iran conflict has pushed Brent crude prices above $77 per barrel, a rise of over 10%, raising concerns about higher input costs for tyre manufacturers like MRF.
MRF, one of India's leading tyre makers, relies heavily on petroleum-based raw materials such as synthetic rubber and processing oils. A sharp increase in crude oil prices significantly impacts the company's production costs and operating margins.
The stock movement is in line with broader weakness across sectors vulnerable to oil inflation, including aviation, paints, logistics, and chemicals. Analysts expect continued pressure on tyre stocks like CEAT and Apollo Tyres as well if oil prices remain elevated.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions.
Ahmedabad Plane Crash
Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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