MRF becomes the most expensive share on NSE by crossing the 50,000 mark. MRF share price rose by more than 7 per cent in today’s trading session to break all records of the Indian securities market. The share price made a lifetime high of Rs 50,190.00. The share price has been climbing a steady ladder since one month. From the level of 35,000 at the end of August it rose about 15,000 to break all the records today.

1. MRF Shares Cross Rs 50,000, Becomes Most Expensive Stock
MRF becomes the most expensive share on NSE by crossing the
50,000 mark. MRF share price rose by more than 7 per cent in
today’s trading session to break all records of the Indian securities
market. The share price made a lifetime high of Rs 50,190.00.
The share price has been climbing a steady ladder since one month.
From the level of 35,000 at the end of August it rose about 15,000 to
break all the records today.
Rubber industry has been on a growth sprout in the recent times.
This growth is the result Rubber Board data showed that rubber
prices zoomed from Rs 114 per kg in the month February to Rs 149 in July of this year, up 31 per
cent. In last two months, prices have gone down again to Rs 120, not every different from what they
were early this year.

2. According to Satish Sharma, the President (Asia Pacific, Middle East & Africa) at Apollo Tyres the
price of the rubber has bottomed out in the month of February 2016, and since then, increased
steeply till May. It started softening since July and currently is stable at a new level. He also added
that the market expects that it would remain at the current levels for the next few months.
Other Influential factors
Along with the softened price of the rubber, there are few more factors at play which are boosting
the rubber and tyre companies.
 Sales of passenger vehicles like car, vans as well as utility vehicles have grown by almost 11
per cent in first five months of the current fiscal year.
 Two wheeler sales too have jumped by a sharp 16 per cent.
 The comparable growth for the corresponding period of the previous year was just 6 per
cent for passenger vehicles while two wheelers sales were flat.
 Sales growth this year has resulted in an increased demand for tyres.
 Not to forget the strong demand in replacement market as well.
The price of rubber is expected to settle at the current level due to the dynamics of the prevailing
demand and supply. Price of crude oil have also increased from the low levels seen in the month of
February 2016, however it is not likely to grow any further. Thus, tyre companies will not face
increased input pressure over the next 12 months, said a recent report by India Ratings and
Research.
By the end of today’s trading session, MRF share price closed at Rs 49,753.35 apiece on NSE. It will
be interesting to watch if the share price will rise further from here in the following trading
sessions or we will see some fall.

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Article Written by
Nabarupa Kanjilal