Top 10 Most Expensive Stocks In India

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India’s stock market is home to over 7,575 listed stocks, with the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) being the primary exchanges. While most shares in the Indian stock market trade below INR 1,000 per share, there are a select few stocks that command much higher prices. In this article, we will explore the top 10 most expensive stocks in India across various industries. In terms of methodology, the sole criterion is the highest share price in India and they may or may not be expensive in terms of valuations. Let’s delve into the details!

1. MRF (INR 142,630) – Most Expensive Share in India 

MRF Most expensive stock in India

Market Capitalization: INR 60,491 crore
Sector: Tyres Rubber products

MRF, the most expensive share in India, specializes in the manufacturing of automotive tires, tubes, and flaps. With an estimated market share of 28%, MRF has established itself as a leader in its sector. Interestingly, MRF started its journey as a toy manufacturer in the late 1940s and ventured into tire production much later in 1961.

Currently priced at INR 142,630 as of 1 February 2024, MRF holds the distinction of being the highest-priced stock in India. This premium valuation can be attributed to factors such as the company’s exceptional financial performance and non-splitting of shares. Therefore, it still has a face value of INR 10. MRF has also delivered impressive trailing five-year returns of 132.72%. Historically, MRF has been among the highest price shares in India.

Also Read: Best Electric Vehicle Stocks in India

2. Honeywell Automation (INR 38,442) – Harnessing Technology 

Honeywell Costliest share in India

Market Capitalization: INR 33,989 crore 
Sector: Consumer Durables – Electronics 

Honeywell Automation India Ltd, a subsidiary of the renowned Honeywell Group in the United States, is engaged in the manufacture of electronic systems and components. The company also excels in repair and maintenance services, trading of machinery and equipment, and supply of related products. Over the past five years, Honeywell Automation has witnessed a steady revenue growth rate of 17.8%.

With a current trading price of INR 38,442 as of 1 February 2024, Honeywell Automation stands tall among the most expensive stocks in India. Its price-earnings (PE) ratio of 76.5 reflects the market’s confidence in the company’s prospects. Investors have enjoyed a remarkable return of 79.71% over the last five years. The share price of Honeywell Automation has ranged between INR 34,343 and INR 44,150 during the past year, making it one of the highest priced stock in India.

3. Page Industries (INR 36,956) – Unmatched Textile Excellence 

Page Industries Costliest share in the textile industry

Market Capitalization: INR 41,220 crore
Sector: Textile 

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 demonstrated a remarkable annual revenue growth rate of 23.21%, surpassing its three-year compound annual growth rate (CAGR) of 17.6% in 2023.

Trading at INR 36,956 as of 1 February 2024, Page Industries claims the distinction of having the highest share price in India among textile players. Its PE ratio of 80.8 indicates that investors have high expectations of business growth in the future. Investors who have held Page Industries shares over the last five years have witnessed significant returns of 58.13%. The share price of Page Industries has ranged between INR 34,953 and INR 43,599 during the past year.

Read Also: Top Undervalued Textile Stocks in India

4. 3M India (INR 33,880) – Diverse Technological Solutions

3M India

Market Capitalisation: INR 38,166 crore
Sector: Diversified

3M India, established in 1987 as an Indian subsidiary of the US-based 3M company, operates across various segments, including industrial, packaging, healthcare, safety and graphics, and consumer products. Some of its well-known offerings include Scotch Brite, Scotch Tapes, and lubricants. Notably, 3M India has witnessed an increase in its market share from 36.33% over the past five years.

In the diversified sector, 3M India stands out as one of the most expensive stocks in India. With a trading price of INR 33,880 as of 1 February 2024, the company enjoys a PE ratio of 78.4, indicating favorable investor sentiment. Investors who have held 3M India shares over the past five years have achieved a respectable return of 68.13%. The share price of 3M India has ranged between INR 21,405 and INR 39,876 during the past year.

5. Shree Cements (INR 29,907) – Building a Solid Foundation 

Shree Cements Share in India - highest share price in India among cement companies

Market Capitalisation: INR 107,905 crore 

Sector: Cement & Construction material 

Shree Cements, headquartered in Kolkata, is one of India’s top three cement producers and has the highest share price in India among cement companies. With an installed capacity of 43.4 million tonnes per annum in India and 47.4 million tonnes including overseas, the company has established itself as a key player in the cement industry. Additionally, Shree Cements is involved in power generation through Shree Power and Shree Mega Power.

As of 1 February 2024, Shree Cements is priced at INR 29,907 making, it the highest-priced stock among cement players in India. The company’s PE ratio stands at 46.0, highlighting its potential for future growth. Investors who have held Shree Cements shares over the past five years have enjoyed a remarkable return of 90.31%. The share price of Shree Cements has ranged between INR 22,601 and INR 30,738 during the past year.

6. Yamuna Syndicate (INR 28,500)

Yamuna Syndicate

Market Capitalisation: INR 876 crore
Sector: Trading

Established in 1955, Yamuna Syndicate is engaged in trading & marketing a wide variety of products, components, and consumables related to the auto sector, agrochemicals as well as industrial and consumer electricals. The company holds a 45% stake in IHEL, which is the flagship company of the ISGEC Group.

As of 1 February 2024, Yamuna Syndicate is trading at INR 28,500 and holds a PE ratio of 7.34. The company has provided investors with a high return of 771.56% over the past five years. The share price of Yamuna Syndicate has ranged between INR 10,200 and INR 30,901.

Read Also: Upcoming IPO Calendar in India

7. Abbott India (INR 25,766) – Innovating Healthcare Solutions 

Abbott India

Market Capitalisation: INR 54,751 crore
Sector: Pharmaceuticals

Abbott India, a pioneer in diagnostics, medical devices, nutritional supplements, and branded generic pharmaceuticals, holds a significant market presence. Over the past five years, the company has achieved a steady revenue growth rate of 8.74% and witnessed an increase in market share from 22.51%.

In the pharmaceutical sector, Abbott India stands among the most expensive stocks in India. With a trading price of INR 25,766 as of 1 February 2024 and a PE ratio of 51.0, the company showcases its strong performance potential. Investors who have held Abbott India shares over the past five years have enjoyed an impressive return of 219.28%. The share price of Abbott India has ranged between INR 19,900 and INR 26,382 during the past year. 

8. Bosch (INR 23,662) – Most Expensive share in India Among Auto Ancillaries 

Bosch share in india

Market Capitalisation: INR 69,789 crore 
Sector: Auto Ancillaries 

Bosch, a subsidiary of the renowned German multinational corporation Robert Bosch, operates in the Auto Ancillary industry. The company specializes in precision engineering and holds a prominent position in the market.

As of 1 February 2024, Bosch is trading at INR 23,662, making it the highest-priced stock among auto ancillaries in India. With a PE ratio of 45.7, the company showcases its stability and growth potential. Over the past five years, investors have achieved a modest return of 25.52%. The share price of Bosch has ranged between INR 16,973 and INR 24,172 during the past year.

9. Kaycee Industries (INR 17,389)

Kaycee Industries

Market Capitalisation: INR 110 crore
Sector: Capital Goods – Electrical Equipment 

The company is a subsidiary of Salzer Electronics Ltd and is an Electrical Product manufacturer and solutions provider to various industries and sectors viz. Power sector, Panel builders, Machine tool manufacturers, Telecom, Renewables, etc.

As of 1 February 2024, Kaycee Industries is trading at INR 17,389, making it the highest-priced stock among Electrical Equipment in India. With a PE ratio of 30.4, the company showcases its stability and growth potential. Over the past five years, investors have achieved a modest return of 431.78%. The share price of Kaycee Industries has ranged between INR 6,275 and INR 21,820 during the past year.

Also Read: Top Artificial Intelligence Stocks in India

10. Bombay Oxygen Investments (INR 17,262) – Delighting Taste Buds 

Bombay Oxygen Investments Limited

Market Capitalisation: INR 259 crore 
Sector: Finance -Investment 

As of 1 August 2019, the company has discontinued its primary manufacturing of Industrial Gases. Instead, it now relies on substantial financial investments in shares, mutual funds, and other securities as its primary revenue source.

Bombay Oxygen Investments also finds its place among the costliest shares in India in the Finance sector. With a trading price of INR 17,262 as of 1 February 2024 and a PE ratio of 7.51, the company demonstrates its potential for growth and profitability. Over the past five years, investors have encountered a notable decline in returns, registering a remarkable decrease of -8.43%. The share price of Bombay Oxygen Investments has ranged between INR 9,811 and INR 18,898 during the past year. 

11. Procter & Gamble Hygiene (INR 17,067) – From Caring to Most Expensive Stocks in India 

Procter & Gamble Hygiene

Market Capitalisation: INR 55,395 crore
Sector: Personal Care 

Procter & Gamble Hygiene operates in the manufacturing and selling of fast-moving branded consumer goods in the feminine care and healthcare industry. The company offers a wide range of products, including creams, ointments, sanitary napkins, and deodorants.

As of 1 February 2024, Procter & Gamble Hygiene is trading at INR 17,067 and holds a PE ratio of 73.7. The company has provided investors with a commendable return of 72.24% over the past five years. The share price of Procter & Gamble Hygiene has ranged between INR 13,101 and INR 19,250, making it one of the costliest shares in India. 

More Entries in Costliest Shares in India

Company NameIndustryMarket Cap (INR Cr.)Current Share Price (INR)5-year Returns (%)
MRFTyres60,483.03142,639.60132.73
Honeywell Automation India Consumer Durables – Electronics33,988.6738,442.1079.71
Page IndustriesTextile41,220.2436,956.0058.13
3M India Ltd.Diversified38,165.9733,879.9568.13
Shree CementCement & Construction Materials107,905.0529,895.0090.24
Yamuna SyndicateTrading875.9928,500.05771.56
Abbott IndiaPharmaceuticals & Drugs54,758.7025,778.35219.43
BoschAuto Ancillary69,783.5523,660.2025.51
Kaycee IndustriesCapital Goods – Electrical Equipment110.3717,389.30431.78
Bombay Oxygen InvestmentsFinance -Investment258.9317,262.00-8.43
Proctor & Gamble HygieneFMCG55,394.5617,065.2572.22
ZF Commercial Vehicle Control System IndiaGlobal Technology29,042.6815,350.00146.45
Disa IndiaCapital Goods2,178.4314,980.25147.87
PolsonChemicals177.6014,800.0027.15
Tasty Bite EatablesConsumer Food3,601.6914,039.5071.96

Patterns in Costliest Shares in India 

Analyzing the most expensive stocks in India reveals certain patterns. Many companies on this list have high PE ratios, indicating strong investor confidence in their prospects. While not all of them enjoy a monopoly, most exhibit a dominant presence in their respective sectors. It’s worth noting that six out of the 15 companies listed are subsidiaries of multinational corporations. Another common theme here is that most of these entries haven’t undertaken corporate actions of stock splits or bonuses.

However, it is essential to remember that the high share price alone does not qualify a stock as a good investment. The share price does not necessarily correlate with the company’s valuation. A stock with a share price of INR 20,000 could be undervalued, while a stock priced at INR 200 could be overvalued. Evaluating a company’s valuation requires considering various factors, including the PE ratio, discounted cash flow, and other financial ratios.

In conclusion, understanding the top 10 most expensive stocks in India provides valuable insights into the country’s stock market landscape. Investors should conduct thorough research and analysis before making investment decisions to ensure they align with their financial goals and risk tolerance.

Happy Investing! 

Frequently Asked Questions

Which is the costliest stock in India?

MRF is the most expensive share in India in price terms, trading at INR 142,630 as of 1 February 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?

Honeywell Automation India is the second highest price stock in India among Consumer Durables – Electronics players, trading at INR 38,442 as of 1 February 2024 at a PE ratio of 76.5.

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