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You may also be wondering which is the most expensive stock in India? Reliance, Tata, Adani…. no way. MRF share is the most expensive share in India. Its main place is Madras Rubber Factory. Which is a well-known tire company of India. In April 1993, shares of this company were worth only Rs 10. But now the price of one share of this company is Rs 1.30 lakh.
One lakh 30 years ago becomes 130 crores
Let us tell you here that when the IPO of this company came 30 years ago i.e. in 1993, the price of its share was only Rs 10. After listing this share closed at Rs 11. At that time, if a person had invested Rs 1 lakh in this stock and still kept his shares with him, then by today's date his investment of Rs 1 lakh in this stock would have increased to Rs 130 crore. That means in 30 years this stock has increased the investors' money 13,000 times.
Share price crosses Rs 1.5 lakh
Talking about the shares of MRF, the price of one share has reached above Rs 1.5 lakh. The stock's 52-week high is Rs 1,51,445. While the lower level is Rs 1,07,008. The face value of the stock is Rs 10. Whereas the market cap of the company is Rs 54,889 crore.
The first stock in the country to cross the lakh mark
Let us tell you here that MRF stock is the first and only stock in India to cross the level of Rs 1 lakh. Till April 1993 its per share price was only Rs 11. However, by March 2005 its share price had reached Rs 3000. Whereas by May 2013 the share price of MRF directly reached Rs 15000. By April 2018, the price of one share became Rs 80,000. In February 2022, the price of MRF shares reached one lakh. At one time this share had crossed the level of Rs 1.5 lakh.
why are stocks so expensive
According to the report, when stock prices rise, companies split them. But MRF company has not distributed this share even once since its listing. Due to which the price of this share is continuously increasing. Now it has reached around Rs 1.30 lakh. In split, the shares are divided into double shares.
When was the company started
MRF company was established in 1946 before independence in India. Initially the company used to make toy balloons. But after 14 years in 1960, the company started manufacturing rubber tyres. Currently it is the largest tire company in India. MRF tires are exported to more than 75 countries. Big cricketers have been the brand ambassadors of this company. In which the names of Sachin Tendulkar to Virat Kohli, Gautam Gambhir, Sanju Samson, Shikhar Dhawan, Brian Lara, Steve Waugh and AB de Villiers are included.