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If one considers the Rs 42,000-crore market capitalisation of MRF, the tyre firm won't even figure among the top 100 listed companies of India in terms of m-cap
MRF becomes the first Indian stock to touch the ₹1 lakh per share mark, with a market capitalisation of nearly ₹42,000 crore. Technical chart analysis indicates further potential for growth.
MRF never split the face value of its shares. In 1970 and 1975, it gave bonus shares in the ratio of 1:2 and 3:10. Over the past 10 years, sales have compounded at 9-10 percent, while the stock has compounded at 22 percent per year
The US Federal Reserve is expected to keep interest rates on hold at its meeting on 14 June. While a pause in rate hikes is expected, a decision to lift rates could lead to a sharp selloff, while a pause followed by a signal for rate cuts could lead to strong market gains.
Indian tyre manufacturer MRF became the first company to see a share price tag exceed INR100,000 ($1,347) in India. MRF is the priciest stock listed on the Indian stock market and it's followed by multinationals such as Honeywell Automation, but stock prices should not be equated with stock valuations. Sonam Srivastava of Wright Research said the value of a stock was influenced by factors including market capitalisation, price-to-earnings ratio and investor expectations factor. Most brokerages have given sell ratings on MRF shares, but technical analysts predict the stock can continue to outpe...