- Date : 10/11/2021
- Read: 3 mins
Reliance Industries, HDFC, or Infosys isn’t among India’s most expensive stocks. Then which one is it? Read on to find out.
The biopic MS Dhoni - the Untold Story claims that as a struggling upcoming cricketer, the former cricket captain of India believed MRF made cricket bats. These days, unlike Dhoni, most people will associate the company with tyres, but how many of us know its stock is today the most expensive share in India, and not Reliance Industries, HDFC, or Infosys?
In fact, how many of us know which stocks make up the list of India's most expensive shares? Read on to know about the top 5 most expensive shares on the Indian stock exchanges. All share prices and market caps quoted below are the closing rates on the BSE on 8 November 2021.
1. MRF Ltd
MRF is India’s number one tyre company, but it does not only manufacture tyres; it is also into paints, sports goods, conveyor/escalator belts, and toys, and has a joint venture with US toy company Hasbro called ‘Funskool’. Founded in 1946 as Madras Rubber Factory (hence ‘MRF’), the company’s share price went from Rs 11 on 27 April 1993 to almost one lakh rupees (Rs 98,599.95) earlier this year.
Current share price: Rs 79,854.25
Market cap: Rs 33,867 crore.
2. Honeywell Automation
The second most expensive share in India is of Honeywell Automation India Ltd. A tech company, HAIL provides a gamut of technological solutions that include services as diverse as avionics, facility management, oil and gas refining, pharmaceutical packaging and safety footwear. In fact, Fortune India magazine went so far as to claim: “This could be the decade of Honeywell.”
Current share price: Rs 42,803.15
Market cap: Rs 37,844 crore
3. Page Industries
Another expensive share in India is Page Industries, which is into manufacturing and marketing innerwear, athleisure, sleepwear, and swimwear for men, women, and kids. It also has tie-ups with Jockey and Speedo. Don’t be surprised to see Page on this list; the market size of women’s innerwear alone is estimated to reach Rs 621.35 billion by 2025 in India, says noted market research portal Statista. Another estimate puts India’s total innerwear market to touch Rs 900 billion in 2028.
Current share price: Rs 39,039.85
Market cap: Rs 43,544 crore
4. Shree Cement
Among the top expensive shares in India is Shree Cement, which has a market cap of over a trillion rupees. One of India's top three cement producers, the company’s cement brands include Shree Jung Rodhak Cement, Bangur Cement, Roofon, and Rockstrong. The Kolkata-based company is also into environment-friendly power generation, including waste heat recovery power, solar power, and wind power, totalling an installed capacity of 752 MW.
Current share price: Rs 29,487.65
Market cap: Rs 106,393 crore
5. 3M India Ltd
The fifth most expensive stock in India’s stock markets is that of 3M, the Indian subsidiary of the Minnesota, US-based 3M Company, which has a 75% stake. 3M India’s premium valuation can be attributed to its US parentage and innovative product pipeline, some of its brands being household names: Scotch Brite, Scotch Tape, Post-It, and Scotchgard glue.
Current share price: Rs 27,250
Market cap: Rs 30,862 crore