When you hear the name MRF, the first thing that probably comes to mind is the stickers on cricket bats, endorsed by famous cricketers. MRF stands for Madras Rubber Factory, one of India’s leading tire companies.
From ₹10 to ₹1.30 Lakh Per Share: A Phenomenal Rise
In April 1993, MRF shares were priced at just ₹10. Today, one share of MRF is valued at approximately ₹1.30 lakh.
₹1 Lakh Investment Turns into ₹130 Crore in 30 Years
In 1993, when MRF launched its IPO, the share price was ₹10, and it closed at ₹11 post-listing. If someone had invested ₹1 lakh in MRF shares back then and held on to the shares till today, their investment would now be worth ₹130 crore. That’s a staggering 13,000 times increase in value over the last 30 years!
MRF Share Price Crosses ₹1.5 Lakh
Currently, MRF’s stock price has crossed ₹1.5 lakh, with a 52-week high of ₹151,445 and a low of ₹107,008. The face value of each MRF share is ₹10, and the company’s market capitalization stands at ₹54,889 crore.
The First Indian Stock to Cross ₹1 Lakh
MRF holds the distinction of being the first and only stock in India to cross the ₹1 lakh mark. Here’s how the stock has grown over the years:
- In April 1993, the share price was just ₹11.
- By March 2005, the price had surged to ₹3,000.
- In May 2013, it reached ₹15,000.
- By April 2018, MRF shares were trading at ₹80,000.
- In February 2022, the stock crossed ₹1 lakh, and it has even surpassed ₹1.5 lakh at times.
Why MRF’s Share Price is So High
Typically, companies opt for stock splits when their share prices rise significantly. However, MRF has never gone for a stock split since its listing. This is one of the main reasons why its share price continues to rise steadily, now hovering around ₹1.30 lakh. In a stock split, the number of shares increases, reducing the price per share, but MRF has chosen not to split its shares.
The History of MRF
MRF was founded in 1946, even before India’s independence. Initially, the company produced toy balloons. It wasn’t until 1960, 14 years later, that MRF started manufacturing rubber tires. Today, it is the largest tire company in India, exporting its products to over 75 countries.
Several legendary cricketers have been brand ambassadors for MRF, including Sachin Tendulkar, Virat Kohli, Gautam Gambhir, Sanju Samson, Shikhar Dhawan, Brian Lara, Steve Waugh, and AB de Villiers.
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