India’s stock market features over 7,993 listed stocks, primarily traded on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). While the majority of shares in the Indian market are priced below INR 1,000, there exists a select group of stocks that command significantly higher prices. This article will delve into the Most Expensive Stocks In India across various sectors. The sole criterion for our analysis is the highest share price in India; these stocks may not necessarily be expensive in terms of overall valuations. Let’s explore the details!
Table of Contents
1. Elcid Investments Ltd (INR 2,60,466): Takes the Crown of Most Expensive Stocks in India
Market Capitalisation: INR 5,470 crore
Sector: Financial Services
Elcid Investments is an Indian company primarily engaged in the business of investments and financial services. The company focuses on managing a diverse portfolio that includes equity investments in various sectors, aiming to generate long-term capital appreciation for its shareholders.
Elcid Investments has gained significant attention following a dramatic surge in its share price, which reached INR 2,73,488.85, making it the most expensive stock in India, surpassing MRF Ltd. This remarkable increase is primarily due to a special call auction conducted by the Bombay Stock Exchange (BSE) aimed to enhance price discovery for investment holding companies.
Before the auction on 29 October 2024, Elcid’s shares were trading at just INR 3.53. After the auction, the stock skyrocketed to INR 2,36,250 in a single day, marking an astonishing increase of 66,92,535%. This extraordinary price movement reflects the implementation of a new framework by the Securities and Exchange Board of India (SEBI), designed to facilitate better pricing for infrequently traded stocks of investment companies.
As of 4 November 2024, Elcid Investment is trading at INR 2,73,489, making it the leader of the most expensive stocks in India. With a PE ratio of 25.6, the company showcases its stability and growth potential. The company has maintained a debt-free status for several years and reported a return of 725% over 5 years.
Read Also: Upcoming Reliance Group IPOs:Â Two IPOs Lined-Up
2. MRF (INR 1,23,330): Drops to Second Place
Market Capitalization: INR 51,469 crore
Sector: Tyres Rubber products
MRF, a leader in the automotive tyre industry, specializes in manufacturing tyres, tubes, and flaps. As of 4 November 2024, MRF’s share is trading at INR 1,20,500. The company enjoys a market share of approximately 29%, underscoring its dominance in the sector. Interestingly, MRF began its journey as a toy manufacturer in the late 1940s before transitioning to tyre production in 1961.
Currently, MRF is recognized as one of the Most Expensive Stocks In India. This premium valuation can be attributed to several factors, including the company’s strong financial performance and its policy of not splitting shares, which maintains a face value of INR 10. MRF has also demonstrated impressive trailing five-year returns of 128.08%. Historically, MRF has consistently ranked among the most expensive shares in India, showcasing its enduring strength and market leadership.
Also Read: Best Electric Vehicle Stocks in India
3. Yamuna Syndicate (INR 49,100) – Rising Star Among the Most Expensive Share in India
Market Capitalisation: INR 1,509.16 crore
Sector: Trading
Founded in 1955, Yamuna Syndicate is a prominent player in the trading and marketing of a diverse range of products, components, and consumables within the automotive sector, agrochemicals, as well as industrial and consumer electricals. The company holds a significant 45% stake in IHEL, which serves as the flagship entity of the ISGEC Group.
As of 4 November 2024, Yamuna Syndicate’s shares are trading at INR 48,399, reflecting a price-to-earnings (P/E) ratio of 11.5. The company has demonstrated remarkable performance over the past five years, notably achieving a five-year return of 466.07%. Throughout this period, the share price has fluctuated between INR 17,400 and INR 66,999, showcasing its volatility and potential for growth and resilience in the market.
4. Honeywell Automation (INR 46,252) – Leading the Charge in India’s Tech Revolution
Market Capitalization: INR 40,222 croreÂ
Sector: Consumer Durables – ElectronicsÂ
Honeywell Automation India, a subsidiary of the esteemed Honeywell Group based in the United States, specializes in the manufacture of advanced electronic systems and components. The company also excels in providing repair and maintenance services, trading machinery and equipment, and supplying related products. Over the past five years, Honeywell Automation has demonstrated a return of 60.07%.
As of 4 November 2024, Honeywell Automation’s shares are trading at INR 45,500, positioning it among the most expensive stocks in India. Its impressive price-to-earnings (P/E) ratio of 76.2 reflects strong market confidence in the company’s future prospects. Throughout the past year, the share price has fluctuated between a 52-week low of INR 34,990 and a 52-week high of INR 59,700, making it one of the costliest shares in India.
5. Page Industries (INR 43,400) – Setting the Standard for Textile Excellence
Market Capitalization: INR 48,056 crore
Sector: TextileÂ
Page Industries holds a prominent position in the textile industry. It serves as the manufacturer and distributor of the highly acclaimed Jockey brand in India, Sri Lanka, and the UAE. Page Industries has recorded a negative revenue growth rate of (2.81)%, while its three-year compound annual growth rate (CAGR) of 17.0% in 2024.
As of 4 November 2024, Page Industries is trading at INR 43,100, making it the highest-priced stock among textile companies in India. Its price-to-earnings (P/E) ratio of 83.4 still reflects strong investor confidence and high expectations for future business growth. Shareholders who have held Page Industries stock over the past five years have enjoyed substantial returns of 74.89%. Throughout this period, the share price has fluctuated between a 52-week low of INR 33,070.05 and a 52-week high of INR 46,810.40, further underscoring its prominence in the market.
6. 3M India (INR 36,166) – Transforming Industries Technology
Market Capitalisation: INR 40,716 crore
Sector: Diversified
3M India, established in 1987 as a subsidiary of the renowned US-based 3M Company, operates across multiple segments, including industrial, healthcare, safety and graphics, and consumer products. The company is well-known for its popular offerings such as Scotch Brite, Scotch Tapes, and various lubricants.
As of 4 November 2024, 3M India is trading at INR 36,128 and boasts a price-to-earnings (P/E) ratio of 71.9, reflecting positive investor sentiment regarding its growth potential. Over the past five years, investors holding shares in 3M India have achieved a commendable return of 62.22%. Throughout the last year, the share price has fluctuated between a 52-week low of INR 28,498.95 and a 52-week high of INR 40,856.50, signifying its position as one of the most prestigious stocks in the Indian market.
Read Also: Top Undervalued Textile Stocks in India
7. Bosch (INR 35,182) – Most Expensive share in India Among Auto AncillariesÂ
Market Capitalisation: INR 1,04,038 croreÂ
Sector: Auto AncillariesÂ
Bosch, a subsidiary of the esteemed German multinational corporation Robert Bosch, operates prominently within the auto ancillary industry. The company specializes in precision engineering and has established itself as a key player in the market.
As of 4 November 2024, Bosch shares are trading at INR 35,275, making it the highest-priced stock among auto ancillary companies in India. With a price-to-earnings (P/E) ratio of 54.6, Bosch reflects strong market confidence and growth potential. Over the past five years, investors have realized a commendable return of 122.77%. Throughout the last year, Bosch’s share price has fluctuated between a 52-week low of INR 19,315.20 and a 52-week high of INR 39,088.80, highlighting its resilience and performance in a competitive sector.
8. Bombay Oxygen Investments (INR 31,594) – Navigating the Financial LandscapeÂ
Market Capitalisation: INR 472 croreÂ
Sector: Finance -InvestmentÂ
Bombay Oxygen Investments, incorporated in 1960, transitioned from manufacturing industrial gases to focusing on financial investments. The company is now primarily engaged in investing in securities, mutual funds, and other financial products.
Bombay Oxygen Investments Ltd. ranks among the most expensive stocks in India’s finance sector. As of 4 November 2024, the company’s stock is trading at INR 31,498 and boasts a price-to-earnings (P/E) ratio of 7.28, indicating its growth and profitability potential. Over the past five years, investors in Bombay Oxygen Investments have enjoyed a notable return of 41.15%. Throughout the last year, the share price has fluctuated between a 52-week low of INR 12,116 and a 52-week high of INR 38,800, reflecting its volatility and strong market presence.
9. Abbott India (INR 29,296) – Innovating Healthcare SolutionsÂ
Market Capitalisation: INR 62,741 crore
Sector: Pharmaceuticals
Abbott India is a leading multinational pharmaceutical company specializing in diagnostics, medical devices, nutritional products, and branded generic pharmaceuticals. Established in 1910 and headquartered in Mumbai. The company focuses on diverse therapeutic areas, including women’s health, gastroenterology, and cardiology, delivering innovative healthcare solutions to improve lives across India. Over the past five years, the company has achieved a steady revenue growth rate of 9.35%.
As of 4 November 2024, Abbott India is trading at INR 29,525, positioning it among the most expensive stocks in the pharmaceutical sector. The company’s price-to-earnings (P/E) ratio stands at 50.6, reflecting strong investor confidence in its growth prospects. Investors who have held Abbott India shares over the last five years have realized impressive returns of 147.10%. Throughout the past year, the share price has fluctuated between a 52-week low of INR 21,907.45 and a 52-week high of INR 30,499.90, highlighting its volatility and strong market performance.
Read Also: Upcoming IPO Calendar in India
10. Shree Cements (INR 27,412) – Last But Not the Least
Market Capitalisation: INR 89,797 croreÂ
Sector: Cement & Construction materialÂ
Shree Cement is one of India’s leading cement manufacturers, established in 1979. The company operates across multiple states, with a consolidated production capacity of 46.40 million tonnes per annum (MTPA). Known for its brands like Shree Ultra and Bangur Cement, Shree Cement also engages in power generation through its subsidiaries, Shree Power and Shree Mega Power.
As of 4 November 2024, Shree Cements is priced at INR 24,888 making, it the highest-priced stock among cement players in India. The company’s PE ratio stands at 42.7, highlighting its potential for future growth. Investors who have held Shree Cements shares over the past five years have enjoyed a remarkable return of 23.62%. The share price of Shree Cements has ranged between INR 23,700 and INR 30,737.75 during the past year.
Also Read:Â Top Artificial Intelligence Stocks in India
More Entries in Costliest Shares in India
| Company Name | Industry | Market Cap (INR Crore) | Current Share Price (INR) | 5-year Returns (%) |
|---|---|---|---|---|
| Elcid Investment | Financial Services | 5,470 | 273,488.84 | 725.00 |
| MRF Ltd. | Tyres | 51,126.97 | 120,550.00 | 87.07 |
| Yamuna Syndicate Ltd | Trading | 1,487.28 | 48,399.00 | 466.07 |
| Honeywell Automation India Ltd. | Consumer Durables – Electronics | 40,061.82 | 45,311.00 | 59.76 |
| Page Industries Ltd. | Textile | 48,247.90 | 43,256.65 | 75.81 |
| 3M India Ltd. | Diversified | 40,779.55 | 36,200.00 | 62.22 |
| Bosch | Auto Ancillary | 104,094.99 | 35,106.80 | 122.77 |
| Bombay Oxygen Investments | Finance – Investment | 472.47 | 31,498.00 | 41.15 |
| Abbott India | Pharmaceuticals & Drugs | 62,744.82 | 29,620.00 | 147.10 |
| Shree Cement Ltd. | Cement & Construction Materials | 89,795.23 | 24,856.10 | 23.62 |
| Disa India Ltd | Capital Goods | 2,617.56 | 17,999.95 | 245.42 |
| Proctor & Gamble Hygiene | FMCG | 52,123.32 | 16,050.00 | 32.22 |
| ZF Commercial Vehicle Control System India Ltd | Global Technology | 27,804.58 | 14,659.00 | 138.73 |
| Wendt India Ltd | Capital Goods | 3,004.24 | 15,021.20 | 373.29 |
| Polson | Chemicals | 175.20 | 14,600.00 | 82.15 |
Patterns in Costliest Shares in IndiaÂ
Analyzing India’s most expensive stocks reveals distinct trends. Many of these companies exhibit high price-to-earnings (P/E) ratios, reflecting strong investor confidence in their growth potential. While not all hold monopolies, most maintain a dominant market presence. Notably, six out of the fifteen companies listed are subsidiaries of multinational corporations. Additionally, a common characteristic among these stocks is the absence of corporate actions such as stock splits or bonuses.
However, it is crucial to understand that a high share price does not automatically indicate a sound investment. The share price alone does not correlate with a company’s overall valuation; for instance, a stock priced at INR 20,000 could be undervalued, while another at INR 200 might be overvalued. Proper valuation assessment requires analyzing various factors, including the P/E ratio, discounted cash flow, and other financial metrics.
In conclusion, examining the top ten most expensive stocks in India provides valuable insights into the country’s stock market dynamics. Investors should conduct comprehensive research and analysis before making investment decisions to ensure alignment with their financial objectives and risk tolerance.
Happy Investing!Â
Frequently Asked Questions
Which is the costliest stock in India?
Elcid Investments is the most expensive share in India in price terms, trading at INR 2,73,489 as of 4 November 2024.
Why is the MRF stock price so high?
One of the factors contributing to the high share price of MRF is the fact that, unlike Infosys and many other companies, the company has never divided its stock.
Are high-priced shares risky to invest in?
In contrast to other inexpensive shares, costly shares may have a substantially lower risk. The state of the market is not likely to have an impact on them.
What is the second most expensive stock?
MRF is the second highest price stock in India among Tyres, trading at INR 1,20,500 as of 4 November 2024 at a PE ratio of 24.8.
