MRF, one of the leading stocks in the Indian stock market, made history on Tuesday by becoming the first Indian stock to touch Rs 1,00,000 per share. The stock hit an all-time high of Rs 1,00,439.95 during the morning trade on the NSE.

MRF’s shares advanced nearly 1%, trading at Rs 1,00,000 at 03:15 pm. Over the past year, shares of MRF have surged by more than 45%. The current market capitalization of the company is approximately Rs 42,410 crore.

The recent surge in MRF’s stock price can be attributed to the company’s robust financial performance in the March quarter and improved profitability prospects due to falling raw material prices. Additionally, MRF announced a dividend of Rs 169 per share for its investors.

In the quarter ending March 31, 2023, MRF reported a remarkable 86% increase in consolidated net profit, amounting to Rs 313.5 crore from Rs 168.5 crore in the same period of the previous year.

During the fourth quarter of FY22-23, MRF’s consolidated revenue from core operations rose by 10% to Rs 5,842 crore. MRF’s net expenses for Q4FY23 were Rs 5,410.26 crore, while the EPS reached Rs 803.26, showing significant improvements compared to the year-ago quarter.

As of March 31, 2023, the promoters hold a 27.84% stake in MRF, while the remaining 72.16% is with public shareholders. Among the public shareholders, foreign institutional investors (FIIs) own 18.