The price of a stock is a key factor in deciding the constituents of a portfolio or stock picks. High-priced stocks add more weightage to the portfolio but leave lesser money in the hands of investors/ traders. We look at top five stocks, which are the most expensive in the Indian share market.
MRF: Rs 74,353
Indian tyre manufacturer MRF is the most expensive stock in the Indian market. The firm's market capitalisation on BSE stands at Rs 31,644 crore. The stock hit its all-time high level of 81,423 on April 30, 2018. The stock is up 2.77% since the beginning of this year and has risen 9.20% during the last one year. Face value of the MRF stock is Rs 10.
MRF reported a 20.41 per cent rise in its net profit at Rs 345.32 crore for the fourth quarter ended March 31, 2018 compared with net profit of Rs 286.77 crore during the same period of the previous fiscal.
Total income rose to Rs 3,944.75 crore for the fourth quarter, as compared with Rs 3,778.23 crore in the same period of 2016-17, MRF said. The company also recommended a final dividend of Rs 54 per share.
The firm is engaged in the manufacture and sale of automotive tires, tubes and flaps, among others. The company also manufactures rubber products, such as tread rubber and conveyor belt.
Eicher Motors: Rs 30,710
The flagship firm of the Eicher Group owns the iconic Royal Enfield motorcycle business in India. The Eicher Motors stock hit its 52-week high of Rs 33,483 on September 8, 2017. It is up 1.39% since the beginning of this year. During the last one year, the stock has risen 5.48%.
Motilal Oswal has given a target price of Rs 34,714 for the stock. "Eicher Motors trades at 29x/22.6x FY19E/20E consolidated earnings per share. We maintain our multiple (P/E of 27x for RE and EV/EBITDA of 10x for Volvo Eicher Commercial Vehicles Limited (VECV). Reiterating Buy with a TP of INR 34, 714 ( March 20 SOTP -based)," the brokerage said in a report on May 9, 2018 when the stock price stood at 30,305.
ICICI Direct.Com has given a target price of 35,600 on May 12, 2018. The stock price stood at Rs 30,888 at the time of stock recommendation.
"We ascribe a multiple of 28x FY20E EPS for RE, VECV at 10x FY20E EV/EBITDA, respectively, to arrive at an SOTP based target price of Rs 35600. We have a BUY recommendation on Eicher with an upside potential of 16%," the brokerage said in a report.
Eicher Motors operates in business verticals, including motorcycles, commercial vehicles and personal utility vehicles. The company, through its joint venture, Volvo Eicher Commercial Vehicles Limited (VECV), designs, manufactures and markets trucks and buses from five-49 tonnes, and its manufacturing plant in Pithampur, Madhya Pradesh is the hub for medium duty five and eight litre engines for Volvo Group.
Page Industries: Rs 21,430
Garment manufacturer Page Industries is third on the list of most expensive Indian stocks. The stock is down over 7% since the beginning of this year. It has gained 57.23% during the last one year. The market capitalisation of the stock stands at Rs 26,321 crore. The Page Industries stock hit a fresh 52-week high of 25,779 on December 19, 2017.
Page Industries is engaged in the business of manufacturing and trading of garments. The firm offers knitted garments. The firm offers a range of products for men, women and children. It is engaged in the manufacturing, distribution and marketing of Jockey products. The company holds licence of SPEEDO, an international brand for swim wear.
3M India: Rs 20,228
Bangalore-based company 3M India's stock has risen 4.73% since the beginning of this year. During the last one year, the stock has gained 42.22% .
The stock hit its 52-week high of 22,563 on February 12, 2018 and its 52 week low of 12,730 on BSE.
The company's segments include industrial segment, which offers tapes, adhesives, advanced ceramics, sealants, specialty materials, closure systems for personal hygiene products, as well as offers scotch masking tape, scotch filament tape and scotch packaging tape; packaging equipment, and 3M VHB Bonding Tapes.
Bosch: Rs 18,090
The stock of automotive products firm Bosch Limited is the fifth most expensive in the Indian market. The stock is down nearly 10% since the beginning of this year. During the last one year, the stock has fallen 25.34% on BSE.
On June 19, 2017, the stock hit its 52 week high level of 25,245. The stock touched its 52 week low of 16,990 on March 23, 2018.
The company operates in the manufacturing and trading of automotive products. Its segments include automotive products and others. The company offers products, including fuel injection equipment and components; injectors, nozzles and nozzle holders, and starter motors and generators. It has presence across automotive technology, industrial technology, consumer goods and energy and building technology.
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