MRF Becomes India's First Stock To Surpass Rs 1 Lakh/Share; What Investors Should Know
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India’s Cosliest Stock: MRF shares on Tuesday (June 13) crossed the Rs 1 lakh mark in today’s trading session, becoming the first Indian company to do so in absolute value terms. The stock made an intraday high of Rs 1,00,439 on Tuesday. The stock had earlier hit the Rs 1 lakh mark in May but in the futures segment. In the past year, MRF has rallied over 45 per cent. It has gained 81 per cent from the March 2020 low of Rs 55,000. In December 2022, the stock rose to Rs 94,500 but failed to sustain that level. In India, MRF tops the list of stocks with the highest price tags. Honeywell Automation, whose shares were being sold today at price of Rs 41,152, is the second on the list, followed by the likes of Page Industries, Shree Cement, 3M India, Abbott India, Nestle and Bosch. A high price tag, however, doesn’t make MRF the most expensive stock in India as investors value securities on metrics like price to earnings (PE) or price to book value (PE). A stock split can reduce ...