MRF share price@Rs 1 lakh: Why 6-digit record doesn’t make it the most expensive stock

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 outperform broader indices.