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Time of India
03-06-2025
- Business
- Time of India
Tyre major MRF reclaims title as India's highest-priced stock
Tyre manufacturer MRF has regained its position as India's highest-priced stock, surpassing Elcid Investments after a sustained rally in recent months. As of June 3, 2025, MRF shares were trading at Rs 1,38,100, marking a strong rebound from its 52-week low of Rs 1,02,124 recorded in March. Elcid Investments, which had briefly claimed the top spot, is trading at Rs 1,29,300. The stock has declined by nearly 60% from its all-time high of Rs 3,32,399.95 touched in November 2024. Elcid gained widespread attention in October 2024 when its share price skyrocketed during a special call auction held by the Bombay Stock Exchange (BSE). On October 29, its stock price surged from just Rs 3.53 to Rs 2,36,250 in a single day—an unprecedented increase of 66,92,535%, according to an ET report. The surge was triggered by a Securities and Exchange Board of India (SEBI) initiative to identify fair market values for holding companies that were trading far below their book value. This re-evaluation briefly made Elcid the most expensive stock in the country, overtaking MRF, which at the time was priced at Rs 1,22,576. Elcid's momentum didn't last. The stock peaked in November 2024 and has since seen a sharp correction. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trading CFD dengan Teknologi dan Kecepatan Lebih Baik IC Markets Mendaftar Undo A key factor in the decline has been the falling share price of Asian Paints, in which Elcid holds a 1.28% stake. The value of this stake has dropped from Rs 3,616 crore in October 2024 to Rs 2,775 crore currently. Elcid's present market capitalisation stands at approximately Rs 2,584 crore, now lower than the value of its holding in Asian Paints. Over the past year, shares of Asian Paints have fallen more than 21%, and nearly 30% over two years, putting significant pressure on Elcid's overall valuation. While Elcid's brief stint at the top was driven largely by market revaluation dynamics, MRF's high share price is attributed to its relatively low number of outstanding shares. Analysts and investors are reminded that a stock's market price does not necessarily reflect its intrinsic value. In contrast to Elcid, MRF's gains are backed by strong fundamentals and solid earnings performance. For the March 2025 quarter, MRF posted a net profit of Rs 498 crore, up from Rs 380 crore in the same quarter last year. Revenue increased by 12% to Rs 6,944 crore, while EBITDA rose by 18% to Rs 1,043 crore, with margins improving to 15%. MRF remains India's largest tyre manufacturer and is ranked among the top tyre makers globally. The company manufactures a wide range of tyres catering to various segments, including passenger vehicles, trucks, motorcycles, and agricultural machinery. It has also diversified into other businesses such as conveyor belts, paints, and sports goods over the years. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Economic Times
03-06-2025
- Business
- Economic Times
MRF snatches India's highest-priced stock crown back from Elcid Investments
MRF shares: Elcid gained widespread attention in October 2024 after its stock price skyrocketed during a special call auction held by the Bombay Stock Exchange (BSE). On October 29, the share price surged from ₹3.53 to ₹2,36,250 in a single day—a phenomenal rise of 66,92,535%. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tyre major MRF has reclaimed its title as India's highest-priced stock, overtaking Elcid Investments after a steady rally over the past few months. As of June 3, 2025, MRF shares were trading at Rs 1,38,539—a sharp recovery from its 52-week low of Rs 1,02,124 recorded in contrast, Elcid Investments , which briefly held the top spot, is now trading at Rs 1,29,899. The stock has dropped nearly 60% from its record high of Rs 3,32,399.95 seen in November shot into the spotlight in October 2024, when its stock price soared during a special call auction conducted by the Bombay Stock Exchange (BSE). On October 29, its price jumped from just Rs 3.53 to Rs 2,36,250—a staggering single-day increase of 66,92,535%.This spike followed a SEBI initiative to discover fair market values for holding companies that were trading far below their book value. In Elcid's case, the auction briefly made it the most priciest stock in India, overtaking MRF , which was then priced at Rs 1,22, rally proved short-lived. The stock peaked in November 2024, but has since undergone a sharp correction—driven largely by a decline in Asian Paints , in which Elcid holds a 1.28% value of this holding fell from Rs 3,616 crore in October 2024 to Rs 2,775 crore as of now. Elcid's current market capitalisation stands at around Rs 2,584 crore, which is now below the value of its Asian Paints stake. Shares of Asian Paints have declined over 21% in the past year and nearly 30% over two years, exerting downward pressure on Elcid's Elcid's brief status as the costliest stock was driven by revaluation mechanics, MRF's high price stems from its low number of outstanding shares. Investors need to remember that a stock's price doesn't always indicate its intrinsic in contrast, has steadily risen on the back of strong earnings and consistent business recent gains were also supported by strong quarterly results. For the March 2025 quarter, the company reported a net profit of Rs 498 crore, up from Rs 380 crore a year earlier. Revenue rose 12% to Rs 6,944 crore, while EBITDA grew 18% to Rs 1,043 crore, with margins improving to 15%.MRF is India's largest tyre manufacturer and among the top tyre makers globally. The company offers a broad range of tyres across segments—from passenger cars and trucks to motorcycles and agricultural vehicles. It has also diversified into conveyor belts, paints, and sports goods over the years.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
03-06-2025
- Business
- Time of India
MRF snatches India's highest-priced stock crown back from Elcid Investments
MRF shares: Elcid gained widespread attention in October 2024 after its stock price skyrocketed during a special call auction held by the Bombay Stock Exchange (BSE). On October 29, the share price surged from ₹3.53 to ₹2,36,250 in a single day—a phenomenal rise of 66,92,535%. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tyre major MRF has reclaimed its title as India's highest-priced stock, overtaking Elcid Investments after a steady rally over the past few months. As of June 3, 2025, MRF shares were trading at Rs 1,38,539—a sharp recovery from its 52-week low of Rs 1,02,124 recorded in contrast, Elcid Investments , which briefly held the top spot, is now trading at Rs 1,29,899. The stock has dropped nearly 60% from its record high of Rs 3,32,399.95 seen in November shot into the spotlight in October 2024, when its stock price soared during a special call auction conducted by the Bombay Stock Exchange (BSE). On October 29, its price jumped from just Rs 3.53 to Rs 2,36,250—a staggering single-day increase of 66,92,535%.This spike followed a SEBI initiative to discover fair market values for holding companies that were trading far below their book value. In Elcid's case, the auction briefly made it the most priciest stock in India, overtaking MRF , which was then priced at Rs 1,22, rally proved short-lived. The stock peaked in November 2024, but has since undergone a sharp correction—driven largely by a decline in Asian Paints , in which Elcid holds a 1.28% value of this holding fell from Rs 3,616 crore in October 2024 to Rs 2,775 crore as of now. Elcid's current market capitalisation stands at around Rs 2,584 crore, which is now below the value of its Asian Paints stake. Shares of Asian Paints have declined over 21% in the past year and nearly 30% over two years, exerting downward pressure on Elcid's Elcid's brief status as the costliest stock was driven by revaluation mechanics, MRF's high price stems from its low number of outstanding shares. Investors need to remember that a stock's price doesn't always indicate its intrinsic in contrast, has steadily risen on the back of strong earnings and consistent business recent gains were also supported by strong quarterly results. For the March 2025 quarter, the company reported a net profit of Rs 498 crore, up from Rs 380 crore a year earlier. Revenue rose 12% to Rs 6,944 crore, while EBITDA grew 18% to Rs 1,043 crore, with margins improving to 15%.MRF is India's largest tyre manufacturer and among the top tyre makers globally. The company offers a broad range of tyres across segments—from passenger cars and trucks to motorcycles and agricultural vehicles. It has also diversified into conveyor belts, paints, and sports goods over the years.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
