Muscle Man does the heavy lifting for MRF, share touches Rs 1lakh in futures
In the domestic stock market, on Monday, MRF shares crossed the Rs 1 lakh mark in futures trading. That is, one has to spend one lakh rupees to buy one share of MRF.
The stock of tyre maker Madras Rubber Factory (MRF) has created history. In the domestic stock market, on Monday, MRF shares crossed the Rs 1 lakh mark in futures trading. That is, one has to spend one lakh rupees to buy one share of MRF.
MRF is the first stock in the history of the Indian stock market whose share has touched the figure of one lakh rupees. As far as the price is concerned, today this stock is the most expensive stock in India. However, in the cash segment, MRF’s stock touched a high of Rs 99,933.50 on Monday. After that profit booking dominated the stock. Despite today’s fall, the MRF stock has gained about 16% in a month and 42% in a year.
100 times return
If we look at the past figures, the stock touched Rs 1,000 on May 3, 1995, Rs 10,000 in February 2012, Rs 25,000 in September 2014, 50,000 in September 2016, Rs 75,000 in 2018 and now in 2023 it has touched Rs 1 lakh level. This means the stock has registered 100 times return in the last 28 years. Now know the reason for the high share price. Actually, this company has never split its shares. According to the information available on BSE, MRF has neither announced bonus shares nor split stock even once since the year 2000 till date. MRF’s stock remained in the range of Rs 97,8778 and Rs 99,933 on Monday in the Bombay Stock Exchange. Compared to the previous close, there was a decline of about one percent. Based on the current share price, the market capitalization of MRF is Rs 41,420 crore.