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Posted on  December 16, 2024 under  by Ayush Maurya

Top 10 Most Expensive Shares in India 2024: Costliest Share

Imagine a stock that once traded for just a few hundred rupees now commanding a price tag of over ₹1 lakh per share! This remarkable growth is what makes the costliest shares in India so fascinating. High-value stocks like these are on the radar of many investors due to their potential for substantial returns and stability. But what factors drive their prices to such lofty heights, and why do they continue to attract investors year after year?

In this comprehensive guide, we’ll delve into the most expensive shares in India for 2024, exploring their historical performance, core business operations, and future prospects. We’ll uncover the reasons behind their sky-high valuations and why they remain a coveted choice for long-term investors.

Understanding Expensive Shares: What Does High Share Price Mean?

When we talk about the most expensive shares in India, it’s not just about a high number on the stock ticker. A high share price often signals a company’s strong financial health, market dominance, and investor confidence. But does an expensive share mean it’s the best investment? Not necessarily. The price of a stock is influenced by several factors, like profitability, demand, and the company’s potential for future growth.

It’s also important to understand that high share prices don’t always reflect a company’s overall value. For example, a company with fewer shares available can have a much higher price per share compared to larger companies with more shares in circulation. This is why looking beyond the price and evaluating a company’s fundamentals is crucial when considering these high-priced stocks.

Top 10 Most Expensive Shares in India 2024

India’s stock market is home to some of the most expensive share prices in India, held by companies that have shown remarkable growth and market dominance. Here's a detailed table of the top 15 most expensive shares in 2024, including their sub-sector, market capitalisation, current market price (CMP), and 3-year return performance.

Costliest share in indiaMarket Cap (₹ Cr.)CMP (₹)3yr Return
1. Elcid Investments3,751₹1,93,5019214234%
2. MRF Ltd.56,507₹1,32,60080.98%
3. Page Industries454,367₹49,098.9521.73%
4. Yamuna Syndicate1,402₹45,500208.5%
5. Honeywell Auto35,987₹40,818.453.23%
6. Bosch1,07,562₹36,588.80121.93%
7. Bombay Oxygen477₹32,000130.22%
8. 3M India35,600₹31,508.5526.32%
9. Abbott India60,877₹28,302.8053.86%
10. Shree Cement99,552₹27,9806.22%
Data as of 16/12/2024
top Most Expensive Shares

Insights on India's Most Expensive Shares

When it comes to the most expensive share price in India, these companies are not just leading the pack in terms of stock price but also in their respective industries. Below, we’ll take a closer look at each company, its history, core business, and future outlook.

1. Elcid Investments (₹1,93,501)Most Expensive Stock in India

Elcid Investments recently overtook MRF Ltd. to become the most expensive stock in India, with a staggering price above ₹1,93,000 per share.

Elcid Investments is a non-banking financial company (NBFC) registered under the Reserve Bank of India (RBI) as an Investment Company. The company primarily focuses on investment and wealth management, holding significant stakes in blue-chip stocks and other financial instruments. Despite its small operational size, Elcid’s share price reflects its portfolio's extraordinary value and the rarity of its stock.

2. MRF Ltd. (Madras Rubber Factory)(₹1,32,600) – Second Most Expensive Stock

MRF Ltd. was long recognized as the most expensive stock in India before being surpassed by Elcid Investments.

Founded in 1946 as a toy balloon manufacturer, MRF pivoted to tyre manufacturing by 1952 and is now the country’s largest tyre producer. Its products cater to various sectors, including automotive, commercial vehicles, and aviation.

The company’s strategy of not splitting its shares has kept the stock price high, ensuring rarity and demand. Combined with strong financial performance, MRF continues to be an investor favourite.

3. Page Industries (₹49,098.95)

Page Industries, the exclusive licensee of Jockey International in India, has established itself as a dominant player in the apparel and innerwear markets. Founded in 1994, Page Industries has consistently grown its brand by focusing on high-quality products, catering to both the domestic and international markets. The company’s stock is one of the most expensive in India due to its strong financial performance, premium brand positioning, and wide customer base.

4. Yamuna Syndicate (₹45,500)

Yamuna Syndicate is a diversified holding company that operates across various industries, including automotive parts, petroleum products, and agricultural machinery. The company’s stock price has surged in recent years, making it the costliest share in India.

The company’s future strategy revolves around expanding its footprint in the energy and automotive sectors and exploring new opportunities in renewable energy. Investors see Yamuna Syndicate as a high-value, long-term investment due to its diversified business operations and consistent profitability.

5. Honeywell Automation(₹40,818.45)

Honeywell Automation India Ltd. is a leader in the field of industrial automation and control systems, serving a wide range of industries, including manufacturing, aerospace, and energy. Honeywell Automation’s stock has earned the position of the high-price stock in India thanks to its commitment to innovation and its role in driving digital transformation across Indian industries.

The company's focus on research and development ensures that it stays ahead of competitors. Looking ahead, Honeywell is poised to expand further into cybersecurity and smart city solutions, which are expected to drive future growth.

6. Bosch Ltd. (₹36,588.80)

Bosch Ltd. is one of the costliest shares in India and a leading automotive technology and engineering company in India, known for its innovations in mobility solutions. The company has been operational in India since 1951 and is part of the global Bosch Group. Bosch’s offerings range from automotive components to industrial technology, making it a key player in both sectors.

Bosch’s high stock price can be attributed to its strong market presence in the automotive industry and its focus on future technologies like electric mobility and automation.

7. Bombay Oxygen Investments Ltd. (₹32,000)

Bombay Oxygen Investments Ltd. started as a manufacturer of industrial gases but has now transformed into an investment company. Initially established in 1960, the company was known for supplying oxygen and other gases to various industries. However, in recent years, Bombay Oxygen has shifted its focus to investments and has since rebranded itself as a non-banking financial company (NBFC).

8. 3M India (₹31,508.55)

3M India, a subsidiary of the American conglomerate 3M, operates across multiple sectors, including healthcare, industrial products, and consumer goods. Founded in 1988, 3M India has gained a reputation for providing innovative solutions that address everyday needs in areas like safety, energy, and healthcare.

The company’s stock price has remained high due to its diversified product portfolio and its commitment to research and development. The company’s ability to adapt to evolving market trends makes it a reliable choice for long-term investors.

Most Expensive Shares in India

9. Abbott India (₹28,302.80)

Abbott India, a subsidiary of the global healthcare company Abbott, has been serving the Indian market for over 100 years. The company provides pharmaceutical products and nutritional supplements that cater to various health needs, including cardiovascular care, diabetes management, and nutrition.

Abbott India’s stock has consistently performed well due to its strong market presence and product innovation. The company is focused on expanding its reach in rural markets and launching new products in emerging therapeutic areas.

10. Shree Cement (₹27,980)

Shree Cement is one of India’s leading cement producers, focusing on eco-friendly manufacturing processes and operational efficiency. Founded in 1979, the company has grown its market share through strategic capacity expansions and by adopting innovative, sustainable practices.

The company is also focusing on renewable energy initiatives to reduce its carbon footprint, a move that aligns with global sustainability trends and strengthens its market position.

Each of the most expensive shares in India represents a company with a rich history of growth, innovation, and industry leadership. From Elcid Investments dominant position as the most expensive stock to companies like Page Industries and Shree Cement driving high value in their respective sectors, these stocks reflect more than just high prices—they represent long-term value and potential for continued growth.

Most Expensive Shares in India

What Factors Drive These Share Prices So High?

The most expensive shares in India reach their high price points for several compelling reasons. These factors are not just limited to the company's size but reflect the company’s financial health, market dominance, and investor demand.

  • Strong Financial Performance: Companies with consistent profitability, robust cash flows, and strong earnings tend to have higher share prices. This is especially true for firms like MRF and Shree Cement, where high earnings per share (EPS) drive up stock value.
  • Limited Share Supply: Companies like MRF have avoided stock splits, meaning fewer shares are available for trading, boosting demand and increasing prices.
  • Brand Value & Market Leadership: Companies that dominate their sectors, like Nestle and Hindustan Unilever in FMCG or Maruti Suzuki in the auto sector, attract strong investor interest, driving share prices higher.

Should You Invest in High-Priced Shares?

Investing in the most expensive shares in India can be a tempting option, but it’s essential to consider the pros and cons.

  • Advantages: High-priced stocks often belong to industry leaders with strong financials. Investing in companies like MRF, Page Industries, and Shree Cement can offer long-term stability and consistent returns. These companies often have solid business models and are less volatile compared to smaller firms.
  • Disadvantages: On the flip side, high share prices can make it difficult for retail investors to diversify. If the company faces challenges, the fall in stock price can lead to significant losses due to the high initial investment required.

Factors to Consider Before Investing in the Most Expensive Shares in India

Before jumping into buying the costliest shares in India, here are key factors to consider:

  • Company Fundamentals: Look at financial metrics like revenue growth, earnings per share (EPS), and profit margins. Companies with strong fundamentals tend to sustain their high share prices over the long term.
  • Market Conditions: Keep an eye on the overall market environment. Even the highest-priced stocks can dip during economic downturns or market corrections.
  • Investment Horizon: High-priced shares are typically long-term investments. Investors should be prepared to hold these stocks for several years to reap the benefits of steady growth.

Who Can Invest in the Most Expensive Shares in India?

The high-priced stocks in India aren’t just for high-net-worth individuals. Thanks to platforms offering fractional shares or SIPs (Systematic Investment Plans), even retail investors can buy into these high-value companies.

  • Retail Investors: With SIPs and partial shares available, even small investors can access expensive stocks like MRF and Page Industries.
  • Institutional Investors: Institutional investors, including mutual funds and hedge funds, often invest in these high-priced shares to provide stability and consistent portfolio returns.

Investing in high-priced stocks is no longer limited to the wealthy, but it’s still important for all investors, regardless of size, to carefully evaluate their investment goals and risk tolerance before diving in.

Why Don’t Companies Split Their Shares After Reaching Such High Prices in India?

Companies like MRF don’t split their shares because high stock prices can create a sense of exclusivity and stability, signalling to the market that they are premium, well-established firms. In addition:

  • Maintaining Stock Rarity: Companies like MRF and Shree Cement prefer to keep shares limited, increasing demand and holding their high value.
  • Investor Perception: High prices often lead to greater institutional interest. Large funds are more attracted to expensive, stable stocks, making stock splits unnecessary.

By not splitting their shares, these companies maintain their elite status in the market, which can continue attracting long-term investors who prioritise stability over accessibility.

Most Expensive Shares in India

Impact of Stock Splits on Expensive Shares

For expensive stocks like MRF or Elcid Investments, a stock split could make shares more affordable for retail investors, increasing liquidity and trading volume.

However, a split does not change the company’s fundamentals or valuation. While it can attract more investors, it might dilute the exclusivity that high-priced stocks often carry. Investors should focus on the company’s financial health rather than the stock price alone when making investment decisions.

Conclusion

The most expensive shares in India reflect more than just high stock prices—they symbolise strong financials, market leadership, and long-term growth. Among these, Elcid Investments stands out as the highest-priced stock in India, a position it has maintained through careful management and a focus on quality. Whether it’s MRF, Page Industries, or Shree Cement, these companies consistently deliver value to their shareholders.

However, evaluating your risk appetite and portfolio diversification is essential before jumping in. In summary, the most expensive shares in India are not just expensive—they’re also reliable growth engines for patient investors.

Frequently Asked Questions

1. Which is the most expensive shares in India?

Elcid Investments is the most expensive share in India, with a stock price exceeding ₹1,93,000 per share. Known for its leadership in the tyre manufacturing industry, MRF's high share price is driven by strong financial performance and a strategic decision to avoid stock splits.

2. Are expensive shares better than mid-cap or small-cap shares?

Not always. Expensive shares often provide stability and steady returns, while mid-cap and small-cap shares offer higher growth potential but have greater risk. The choice depends on your portfolio's risk appetite, investment goals, and the need for diversification.

3. Do expensive shares offer better returns?

While high-priced stocks like MRF and Page Industries tend to offer stability and consistent returns, they are not guaranteed to provide better returns than lower-priced stocks. The key is to evaluate the company's financials and growth potential before investing.

4. Why don’t companies split their shares after reaching high prices in India?

Many companies, like MRF, avoid stock splits to maintain a sense of exclusivity and attract institutional investors. Keeping the stock price high signals market stability and financial strength, which can enhance investor confidence.

5. Which are the top 5 most expensive shares in India?

As of 2024, the top 5 most expensive shares in India include:
1. Elcid Investments
2. MRF Ltd.
3. Page Industries
4. Yamuna Syndicate
5. Honeywell Automation

These companies are leaders in their respective industries, with strong financials and high market demand driving their stock prices.

6. Is it better to invest in high-priced shares or low-priced shares?

Investing in high-priced shares doesn’t automatically guarantee better returns. The decision should be based on the company’s fundamentals, growth potential, and investment strategy. High-priced shares like MRF and Honeywell Automation are typically considered stable, but every investor’s goals differ.

7. Which sector has the most expensive shares in India?

The automobile, industrial automation, and FMCG sectors currently have some of the most expensive shares in India. Companies like MRF (tyres), Honeywell Automation (industrial automation), and Page Industries (apparel) are all leaders in their respective sectors, which drives their share prices higher.

Disclaimer: This article is for educational purposes only and should not be considered financial advice. Always conduct your research and consider consulting with a financial advisor before making any investment decisions.

Ayush Maurya

Written by Ayush Maurya

Ayush is a seasoned financial markets expert with over 3years of experience. He has a passion for breaking down complex financial concepts into simple, digestible terms. Through his 50+ articles, Ayush has helped countless individuals navigate the often intimidating world of finance.

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