Last updated on July 3, 2024
India’s stock market is home to over 7,777 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!
Table of Contents
1. MRF (INR 1,29,250) – Most Expensive Share in IndiaÂ
Market Capitalization: INR 54,729 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 1,29,250 as of 3 July 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 128.08%. Historically, MRF has been among the highest price shares in India.
Also Read: Best Electric Vehicle Stocks in India
2. Kaycee Industries (INR 65,626)
Market Capitalisation: INR 408 crore
Sector: Capital Goods – Electrical EquipmentÂ
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 3 July 2024, Kaycee Industries is trading at INR 65,626, making it the highest-priced stock among Electrical Equipment in India. With a PE ratio of 92.1, the company showcases its stability and growth potential. Over the past five years, investors have achieved a modest return of 1,903.84%. The share price of Kaycee Industries has ranged between INR 10,400 and INR 65,626 during the past year.
3. Honeywell Automation (INR 56,800) – Harnessing TechnologyÂ
Market Capitalization: INR 50,254 croreÂ
Sector: Consumer Durables – ElectronicsÂ
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 56,800 as of 3 July 2024, Honeywell Automation stands tall among the most expensive stocks in India. Its price-earnings (PE) ratio of 100.0 reflects the market’s confidence in the company’s prospects. Investors have enjoyed a remarkable return of 127.94% over the last five years. The share price of Honeywell Automation has ranged between INR 34,978 and INR 59,994 during the past year, making it one of the highest priced stock in India.
4. Yamuna Syndicate (INR 47,001)
Market Capitalisation: INR 1,444.65 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 3 July 2024, Yamuna Syndicate is trading at INR 47,001 and holds a PE ratio of 11.6. The company has provided investors with a high return of 394.75% over the past five years. The share price of Yamuna Syndicate has ranged between INR 12,751 and INR 66,999.
5. 3M India (INR 39,450) – Diverse Technological Solutions
Market Capitalisation: INR 43,160 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 39,450 as of 3 July 2024, the company enjoys a PE ratio of 82.8, indicating favorable investor sentiment. Investors who have held 3M India shares over the past five years have achieved a respectable return of 68.64%. The share price of 3M India has ranged between INR 26,628 and INR 40,856 during the past year.
6. Page Industries (INR 38,400) – Unmatched Textile ExcellenceÂ
Market Capitalization: INR 42,866 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 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 38,400 as of 3 July 2024, Page Industries claims the distinction of having the highest share price in India among textile players. Its PE ratio of 75.3 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 83.59%. The share price of Page Industries has ranged between INR 33,070 and INR 42,885 during the past year.
Read Also: Top Undervalued Textile Stocks in India
7. Bosch (INR 34,850) – Most Expensive share in India Among Auto AncillariesÂ
Market Capitalisation: INR 1,02,377 croreÂ
Sector: Auto AncillariesÂ
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 3 July 2024, Bosch is trading at INR 34,850, making it the highest-priced stock among auto ancillaries in India. With a PE ratio of 56.3, the company showcases its stability and growth potential. Over the past five years, investors have achieved a modest return of 108.44%. The share price of Bosch has ranged between INR 17,925 and INR 36,678 during the past year.
8. Bombay Oxygen Investments (INR 29,654) – Delighting Taste BudsÂ
Market Capitalisation: INR 404 croreÂ
Sector: Finance -InvestmentÂ
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 29,654 as of 3 July 2024 and a PE ratio of 7.72, the company demonstrates its potential for growth and profitability. Over the past five years, investors who have held Bombay Oxygen Investments shares have enjoyed a remarkable return of 41.77%. The share price of Bombay Oxygen Investments has ranged between INR 9,811 and INR 38,800 during the past year.Â
9. Abbott India (INR 27,678) – Innovating Healthcare SolutionsÂ
Market Capitalisation: INR 58,752 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. The company showcases its strong performance potential with a trading price of INR 27,678 as of 3 July 2024 and a PE ratio of 48.9. Investors who have held Abbott India shares over the past five years have enjoyed an impressive return of 215.13%. The share price of Abbott India has ranged between INR 21,907 and INR 29,639 during the past year.Â
Read Also: Upcoming IPO Calendar in India
10. Shree Cements (INR 27,412) – Building a Solid FoundationÂ
Market Capitalisation: INR 97,221 croreÂ
Sector: Cement & Construction materialÂ
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 3 July 2024, Shree Cements is priced at INR 27,412 making, it the highest-priced stock among cement players in India. The company’s PE ratio stands at 41.3, highlighting its potential for future growth. Investors who have held Shree Cements shares over the past five years have enjoyed a remarkable return of 27.19%. The share price of Shree Cements has ranged between INR 23,023 and INR 30,738 during the past year.
Also Read:Â Top Artificial Intelligence Stocks in India
11. Procter & Gamble Hygiene (INR 16,602) – From Caring to Most Expensive Stocks in IndiaÂ
Market Capitalisation: INR 53,311 crore
Sector: Personal CareÂ
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 3 July 2024, Procter & Gamble Hygiene is trading at INR 16,602 and holds a PE ratio of 68.8. The company has provided investors with a commendable return of 47.6% over the past five years. The share price of Procter & Gamble Hygiene has ranged between INR 12,722 and INR 17,794, making it one of the costliest shares in India.Â
More Entries in Costliest Shares in India
| Company Name | Industry | Market Cap (INR Crore) | Current Share Price (INR) | 5-year Returns (%) |
| MRF Ltd. | Tyres | 54,728.50 | 129,250.00 | 128.08 |
| Kaycee Industries | Capital Goods – Electrical Equipment | 408.36 | 65,625.65 | 1,903.84 |
| Honeywell Automation India | Consumer Durables – Electronics | 50,254.45 | 56,800.00 | 127.94 |
| Yamuna Syndicate | Trading | 1,444.65 | 47,001.00 | 394.75 |
| 3M India Ltd. | Diversified | 43,159.83 | 39,450.05 | 68.64 |
| Page Industries | Textile | 42,866.31 | 38,400.00 | 83.59 |
| Bosch | Auto Ancillary | 102,377.01 | 34,850.00 | 108.44 |
| Bombay Oxygen Investments | Finance -Investment | 404.37 | 29,653.95 | 41.77 |
| Abbott India | Pharmaceuticals & Drugs | 58,751.56 | 27,678.00 | 215.13 |
| Shree Cement | Cement & Construction Materials | 97,221.29 | 27,412.40 | 27.19 |
| Proctor & Gamble Hygiene | FMCG | 53,311.28 | 16,602.00 | 50.28 |
| Lakshmi Machine Works | Textile Machinery | 17,850.27 | 16,458.20 | 218.82 |
| ZF Commercial Vehicle Control System India Ltd | Global Technology | 29,444.81 | 15,980.00 | 159.22 |
| Wendt India Ltd | Capital Goods | 3,175.22 | 15,600.00 | 503.59 |
| Disa India Ltd | Capital Goods | 2,214.84 | 15,443.10 | 170.93 |
Patterns in Costliest Shares in IndiaÂ
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!Â
Frequently Asked Questions
Which is the costliest stock in India?
MRF is the most expensive share in India in price terms, trading at INR 1,29,2500 as of 3 July 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?
Kaycee Industries is the second highest price stock in India among Capital Goods – Electrical Equipment players, trading at INR 65,626 as of 3 July 2024 at a PE ratio of 92.1.
