MRF Fires Up To Reclaim 'Highest-Priced' Stock Title; Overtakes Asian Paints-Linked Rival

Tyre giant MRF has once again become India’s most expensive stock. As of June 3, 2025, MRF shares were trading at Rs 1,37,834.30, after a strong rally in recent months. The stock had hit a 52-week low of Rs 1,00,500 in March, but has since made a sharp comeback.

MRF has now overtaken Elcid Investments, which had briefly held the top spot. Elcid’s stock is currently priced at Rs 1,29,300, down nearly 60% from its all-time high of Rs 3,32,399.95 in November 2024.

Elcid owns 1.28% of Asian Paints, which was worth Rs 3,616 crore in October 2024. That value has now dropped to Rs 2,775 crore.

How Elcid Became the Most Expensive Stock

Elcid shot into the spotlight in October 2024, when a special auction conducted by BSE caused its stock to surge from Rs 3.53 to Rs 2,36,250 in a single day. This dramatic rise followed a SEBI initiative to revalue holding companies that were trading far below their book value.

This price spike temporarily made Elcid the most expensive stock in India, overtaking MRF, which was then priced at Rs 1,22,576. However, Elcid’s rally was short-lived.

Why Elcid's Stock Crashed

Elcid’s stock peaked in November 2024 and has been falling since then. The main reason is the decline in the value of its holding in Asian Paints. 

Elcid’s current market capitalisation is about Rs 2,586 crore, which is less than the value of its Asian Paints holding. Shares of Asian Paints have fallen over 21% in the past year and nearly 30% over two years, which has weighed heavily on Elcid’s valuation.

Also Read: How Are Stock Market NSE, BSE Points Calculated?

Elcid Investments Share Price History

Elcid Investments’ stock has been far more volatile. In the past week, the share price fell 1.83%, and over the last month, it dropped 2.04%. In the past three months, it declined by 3.22%.

The last six months have been rough, with a sharp fall of 43.25%. However, the longer-term picture looks extremely unusual. The stock shows a massive gain of over 38 lakh per cent in one year, and over 42 lakh per cent in two years. In three years, the increase is over 61 lakh per cent, and in five years, the stock is up more than 14 lakh per cent.

These extraordinary figures are the result of the sudden price spike during a special call auction in October 2024. This jump was not driven by regular market demand or company performance but by a one-time revaluation event.

MRF's Rise Backed by Strong Business Performance

In contrast, MRF’s rise is grounded in strong fundamentals. The company reported a net profit of Rs 498 crore in the March 2025 quarter, up from Rs 380 crore a year ago. Revenue rose 12% to Rs 6,944 crore, while EBITDA grew 18% to Rs 1,043 crore. Margins improved to 15%.

MRF also announced a final dividend of Rs 229 per share for FY25, which is 2,290% of its Rs 10 face value.

MRF Share Price History

MRF’s share price has seen steady growth over the long term. In the last one week, the stock is down by 4.28%, and over two weeks, it has fallen 1.72%. However, in the past month, it gained 2.55%. Over the last three months, MRF rose sharply by 31.15%.

Looking at the long-term trend, MRF has gained 43% in the past two years and 80.15% over three years. In five years, the stock has gone up by 123.08%. Over the last ten years, MRF’s share price has climbed nearly 296.30%. This steady rise reflects the company’s strong performance and growth in the tyre sector.