MRF’s stock costliest stock in India on paper, it is still not the most expensive in terms of important metrics such as price-to-earnings (P/E) or price-to-book value (P/BV).
Tyre manufacturer MRF scripted history on Tuesday (June 13) by becoming the first Indian company whose share price hit Rs 1 lakh apiece mark.
MRF’s shares were trading at Rs 1,00,000.95 apiece at 10:45 am yesterday (June 13). It is to be noted that MRF shares were on course to touch Rs 1 lakh apiece mark on May but the shares had just fallen short in that month. At that time, it was predicted by many financial analysts that MRF stock was in a good position to touch he Rs 1 lakh apiece mark soon and the prediction came true on Tuesday.
It is important to note that while MRF’s stock costliest stock in India on paper, it is still not the most expensive in terms of important metrics such as price-to-earnings (P/E) or price-to-book value (P/BV).
The shares of MRF have recorded over 45 per cent gains in one year and it has went up around 14 per cent in 2023 alone. MRF share has delivered a return of 82 per cent in the past three years.
MRF’s Q4FY23 net profit jumped 86 per cent to Rs 313.5 crore, while it was Rs 168.5 crore in Q4FY22.
