Shares of MRF Ltd on Friday breached the ₹50,000-crore market cap on Friday as they were on a roll in the last few months.
The stock closed at ₹1,17.916.10 on the BSE, up 0.41 per cent, over previous day’s close ₹1,17,430.80. Today’s gain pushed the market-cap to ₹50,009.90 crore. MRF hit a 52-week high of ₹118,960 on Thursday.
However, MRF is the second largest market-cap company among tyre makers. Balkrishna Industries tops the list with ₹50,313.70 crore. Others such as Apollo Tyres (₹29,109.85 crore), Ceat (₹9,400.20 crore), JK Tyre & Industries (₹8,576.22 crore), TVS Srichakra (₹3,459.49 crore) and Goodyear India (₹3,042.10 crore) are far away in terms of market-cap.
Though MRF stock price is ruling over ₹1 lakh due to its low float (42.41 lakh shares), the market cap is much lower compared some of the prominent stocks. Due to large equity base, shares such as Reliance Industries (₹16.61-lakh crore), TCS (₹13.27-lakh crore), HDFC Bank (₹12.55-lakh crore), ICICI Bank (₹7-lakh crore), Infosys (₹6.18-lakh crore), HUL (₹5.92-lakh crore), Bharti Airtel (₹5.62-lakh crore), ITC (₹5.60-lakh crore), SBI (₹5.48-lakh crore) and LIC (₹4.89-lakh crore) command higher market-cap despite their respective share prices ruling much lower when compared with MRF.