Latest news with #MRF
Time of India
15 hours ago
- 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
16 hours ago
- 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
16 hours ago
- 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)
Economic Times
2 days ago
- Business
- Economic Times
Apollo Hospitals shares in focus after Q4 profit jumps 53% YoY to Rs 390 crore
Apollo Hospitals Enterprise shares will be in focus on Monday after the company reported a 53.5% year-on-year (YoY) jump in net profit for the March quarter. Net profit rose to Rs 390 crore in Q4FY25 from Rs 254 crore in the same quarter last year, beating Street estimates of Rs 374 crore. ADVERTISEMENT Revenue from operations grew 13% YoY to Rs 5,592 crore, compared to Rs 4,944 crore in Q4FY24. On a sequential basis, profit after tax (PAT) rose 5% from Rs 372 crore in Q3FY25. Revenue was marginally higher by 1.2% compared to Rs 5,527 crore in the previous quarter. Total expenses during the quarter stood at Rs 5,148 crore, up from Rs 5,060 crore in Q3FY25 and Rs 4,612 crore in Q4FY24. Key expenditure heads included cost of materials consumed, changes in inventories, employee benefits, and finance company's board has recommended a final dividend of Rs 10 per equity share for FY25. The record date for determining eligible shareholders has been set for August 19, 2025. Also Read: India's top 10 priciest stocks in 2025: MRF to Elcid, see who tops the list ADVERTISEMENT The company's revenue comes from healthcare services, retail health & diagnostics and digital health & pharmacy distribution.- Healthcare services: Q4FY25 revenue stood at Rs 2,843 crore versus Rs 2,803 crore in Q3FY25 and Rs 2,579 crore in Q4FY24. ADVERTISEMENT - Retail Health & Diagnostics: Q4FY25 revenue stood at Rs 394 crore versus Rs 390 crore in Q3FY25 and Rs 354 crore in Q4FY24.- Digital health & pharmacy distribution: Q4FY25 revenue stood at Rs 2,376 versus Rs 2,352 crore in Q3FY25 and Rs 2,027 crore in Q4FY24. ADVERTISEMENT The company also announced significant expansion in Bengaluru in the Sarjapur micro-market through the addition of 700 beds in 2 stages, to establish a dominant presence in the South-Eastern part of the city with a large addressable market. Also Read: Ola Electric, Kalyan Jewellers among 10 firms where promoters pledge increased in Q4 ADVERTISEMENT According to Trendlyne, the average target price for Apollo Hospitals stands at Rs 7,779, indicating a potential upside of nearly 13% from current levels. Among the 29 analysts tracking the stock, the consensus rating is 'Buy'.Apollo Hospitals shares are down 7% year-to-date but have gained 14% over the past three months. The company's market capitalisation currently stands at Rs 98,897 crore. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
The Hindu
2 days ago
- Automotive
- The Hindu
Lord Jagannath becomes MRF's second client for Sukhoi tyres after IAF
On the night May 31, the chariot of Lord Jagannath rolled on the streets of Kolkata with tyres of Sukhoi fighter jets. The 24 km dry run was to ascertain whether the four tyres that are fixed to usually Sukhoi fighter jets were fitted properly to the wooden chariot of the Lord Jagannath. ISKCON (International Society for Krishna Consciousness) Kolkata, which has been organising annual Rath Yatra for the past five decades have been looking to replace the Boeing tyres fitted to the chariot of Lord Jagnnath for the past few years. Radharaman Das, the Vice President of ISKCON Kolkata said that when he approached the tyre maker MRF they were shocked at the request of Sukhoi aircraft tyres for chariot of Lord Jagannath. 'For the last 48 years the chariot of Lord Jagnnath has been working on Boeing tyres, for the last 20 years we have been looking for a replacement. MRF finally called us in December 2024, they were also shocked because they only have only one client the Indian Air Force,' Mr. Das told The Hindu. The ageing tyres of Boeing -747 had been serving the chariot for over 50 years but last year the organisers of the Rath Yatra faced significant challenges including axel issues. 'In 1972 we started the first Kolkata Rath Yatra. In 1977 an American disciple got this new chariot made for Lord Jagannath. He used Boeing second hand tyres from Kolkata Airport to make the chariot,' he said. The Boeing tyres were manufactured by Kolkata based tyres makers Dunlop, But since Dunlop suspended its operation a long time ago, finding aircraft tyres was a challenge to ISKCON. The Sukhoi's 4-ft diameter tyres were found to be the closest to the jumbo jet tyres which were of the same diameter. Mr. Das said that MRF sent a team comprising a general manager to verify their claims and needs for new Sukhoi tyres. 'MRF sent a team of their general manager and others to see that we have the Boeing jumbo jet tyres in our chariot. Then they sent a report and MRF finally agreed to sell four tyres,' the ISKCON representative said. The four tyres, each of which can withstand a load of 16 tonnes have come at a cost of Rs 1.72 lakh The installation of Sukhoi tyres took about 20 to 25 days, which required minor structural changes keeping the traditional wooden and iron structures intact and a dry run was held on Saturday night. Mr. Das said that the chariots of other deities including Lord Balaram chariot has got new iron wheels for the chariot. On July 27, 2025 when thousands of devotees will participate in the annual Rath Yatra of ISKCON in Kolkata, and pull the ropes of chariot of Lord Jagannath, it will gently roll the tyres of Sukhoi jets which are meant to pierce the skies at supersonic speed.
