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Share Market: Shares of tire maker Madras Rubber Factory (MRF) have made history. MRF stock crossed the Rs 1 lakh mark in futures trading today. That is, if someone now buys MRF shares, he will have to pay one lakh rupees per share. MRF is the first stock in India to touch the Rs 1 lakh mark. However, the stock of MRF touched Rs 99,933.50 on the stock exchange on Monday. Since then it started to decline again. MRF shares touched a fresh 52-week high of Rs 99,933.50 today.
The stock increased 100 times
MRF shares opened at Rs 98,620 on Monday morning and touched an intraday high of Rs 99,933. Its low was Rs 98,614.05 till 10:15 am today. This stock has increased 100 times in the last 20 years. The stock has increased by 10.19 percent in the last five days. Along with this, there has been a jump of more than 16 percent in one month. So far this year i.e. in the year 2023, the share of MRF has increased by 11.38 percent.
In the year 2000, the price of one share of MRF was Rs.1000. Now this stock has crossed one lakh mark for future trading. In these 23 years, the stock has made a tremendous jump of more than 10,000 percent.
Excellent performance of the company
MRF Company has presented excellent results in the fourth quarter. MRF’s standalone profit rose 162 percent to Rs 410.66 crore in the March quarter of FY23. Meanwhile, the company’s operational performance has strengthened. Along with this, the company’s standalone revenue from operations increased by 10 percent to Rs 5,725.4 crore on an annualized basis. The company has declared a dividend of Rs 169 per share.
1000 to lakh rupees
If we look at the shares of MRF, the stock price in the year 2000 was Rs 1000 per share. While in 2012 it reached the level of Rs 10,000. After this, in 2014, this stock touched the figure of Rs 25,000. Then in 2016 it went up to Rs 50,000. 75,000 in the year 2018 and has now reached close to one lakh rupees. On April 27, 1993, the price of one share of MRF was Rs.11.
Why is MRF stock so expensive?
Why MRF stock is so expensive, know the reason behind it. Actually, the reason behind it is not to distribute the shares of the company. According to Angel One, MRF has never split its shares since 1975. Earlier, MRF had issued bonus shares in the ratio of 1:2 in 1970 and 3:10 in 1975.
Started by making toy balloons
The full form of MRF is Madras Rubber Factory. It started in 1946 by making toy balloons. They started making tires from 1960. Now this company is the largest tire manufacturer in India. The tire industry market in India is around 60000 crores. JK tyre, CEAT tyre, etc. are competitors of MRF. MRF has over 2500 distributors in India and the company exports to over 75 countries worldwide.
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