Top 10 Most Expensive Stocks in India 2024

Last Updated on Jan 24, 2024 by Anjali Chourasiya

Here’s a mind-blowing fact for you – Berkshire Hathaway is the most expensive stock in the world, trading at ~$5,62,300 per share as of 23rd January 2024. Have you ever wondered which is the most expensive stock in India? In this article, let’s look at the top 10 most expensive stocks in India, why you should invest in them, and things to remember before investing in them. Let’s dive in.

Top 10 most expensive stocks in India

Name Sub-Sector Market Cap (Rs. in cr.) Close Price (Rs.) PE Ratio 5Y Avg Return on Investment (%) Debt to Equity (%) Fundamental Score
MRF Ltd Tires & Rubber 61,650.68 1,40,997.25 80.18 8.84 20.49 5.71
Honeywell Automation India Ltd Electronic Equipments 33,161.55 37,847.30 75.71 17.32 1.14 7.15
Page Industries Ltd Apparel & Accessories 41,797.92 36,638.15 73.17 40.90 29.64 5.50
3M India Ltd Stationery 38,109.17 33,527.70 84.50 18.29 1.59 6.31
Shree Cement Ltd Cement 99,560.49 27,493.75 78.35 11.13 14.59 6.25
Abbott India Ltd Pharmaceuticals 53,557.91 25,481.40 56.41 25.62 3.55 6.45
Bosch Ltd Auto Parts 67,901.29 22,774.80 47.63 10.87 0.48 4.80
ZF Commercial Vehicle Control Systems India Ltd Auto Parts 32,983.87 17,262.35 103.83 9.97 0.00 4.93
Procter & Gamble Hygiene and Health Care Ltd FMCG – Personal Products 56,074.95 17,048.15 82.69 65.58 0.43 5.89
Lakshmi Machine Works Ltd Industrial Machinery 14,538.82 13,357.20 37.86 8.13 0.00 3.55

Note: The information is from the date 23rd January 2024 and is filtered out using Tickertape Stock Screener. Following are the filters used to get the list of the top 10 most expensive stocks in India among 1000s of stocks available.

  • Stock Universe: Nifty500
  • Close Price: Set to High

MRF Ltd

A leading tyre manufacturer in India, MRF Ltd produces a wide range of tyres. It specialises in car and bike tyres, trucks/buses tyres, LCV and SCV(light and small commercial vehicle) tyres, farm services & OTR tyres.

The company, as of 23rd January 2024, had a market capitalisation of Rs. 61,650.68 cr. and a stock price of Rs. 1,40,997.25. MRF Ltd’s 5-yr Return on Investment (ROI) is 8.84%, and its net profit margin is 3.31%. The fundamental score of the stock is 5.71.

Honeywell Automation India Ltd

Incorporated in 1984, Honeywell Automation India Ltd is a leader in providing integrated automation and software solutions, including process solutions and building solutions. It is a Fortune India 500 company having a wide product portfolio in environmental and combustion controls and sensing and control, and it also provides engineering services in the field of automation and control to global clients.

The company, as of 23rd January 2024, had a market capitalisation of Rs. 33,161.55 cr. and a stock price of Rs. 37,847.30. Honeywell Automation India Ltd’s 5-yr ROI and net profit margin are 17.32% and 12.25%, respectively. The fundamental score of the stock is 7.15.

Page Industries Ltd

Founded in 1994, Page Industries Ltd is the exclusive licensee of JOCKEY International Inc. (USA) for the manufacture, distribution and marketing of the Jockey brand in India, Sri Lanka, Bangladesh, Nepal, UAE, Oman and Qatar.

As of 23rd January 2024, its market capitalisation was Rs. 41,797.92 cr., and the stock price was Rs. 36,638.15. Page Industries Ltd’s 5-yr ROI and net profit margin are 40.90% and 11.89%, respectively. The fundamental score of the stock is 5.50.


3M India Ltd

3M India Ltd is a technology company that works across various segments like industrial, packaging, healthcare, safety and graphics, and consumer. As of 23rd January 2024, the company’s market capitalisation and stock price were Rs. 38,109.17 cr. and Rs. 33,527.70, respectively. 3M India Ltd’s 5-yr ROI and net profit margin are 18.29% and 11.20%, respectively. The fundamental score of the stock is 6.31.

Shree Cement Ltd

Founded in 1979, Shree Cement Ltd is a leading cement manufacturer in North India. The company markets its products under three brand names: Shree Ultra Jung Rodhak Cement, Bangur Cement, and Tuff Cemento.

On 23rd January 2024, the company’s market capitalisation was Rs. 99,560.49 cr., and its stock price was Rs. 27,493.75. Shree Cement Ltd’s 5-yr ROI is 11.13%, and its net profit margin is 6.94%. The fundamental score of the stock is 6.25.

Abbott India Ltd

Abbott India Ltd is a healthcare company engaged in the pharmaceuticals business. The company has a portfolio of offerings in diagnostics, medical devices, nutritional and branded generic pharmaceuticals.

The company, as of 23rd January 2024, had a market capitalisation of Rs. 53,557.91 cr. and a stock price of Rs. 25,481.40. Abbott India Ltd’s 5-yr ROI and net profit margin are 25.62% and 17.16%, respectively. The fundamental score of the stock is 6.45.

Bosch Ltd

Founded in 1951, Bosch Ltd operates in the manufacturing and trading of automotive products. The company is a leading supplier of technology and services in the areas of Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. Additionally, Bosch has in India the largest development centre outside Germany for end-to-end engineering and technology solutions.

The company, as of 23rd January 2024, had a market capitalisation of Rs. 67,901.29 cr. and a stock price of Rs. 22,774.80. Bosch Ltd’s 5-yr ROI and net profit margin are 10.87% and 9.25%, respectively. The fundamental score of the stock is 4.80.

ZF Commercial Vehicle Control Systems India Ltd

Formerly known as WABCO India Limited, ZF Commercial Vehicle Control Systems India Limited, is an India-based company that is primarily engaged in manufacturing air brake actuation systems for commercial vehicles.

The company, as of 23rd January 2024, had a market capitalisation of Rs. 32,983.87 cr. and a stock price of Rs. 17,262.35. ZF Commercial Vehicle Control Systems India Ltd’s 5-yr ROI and net profit margin are 9.97% and 9.05%, respectively. The fundamental score of the stock is 4.93.

Procter & Gamble Hygiene and Health Care Ltd

Procter & Gamble Hygiene and Health Care Ltd is engaged in the manufacturing and selling of branded packaged fast-moving consumer goods in the fem-care and healthcare businesses. On 28th September 2023, the company’s market capitalisation was Rs. 56,074.95 cr., and its stock price was Rs. 17,048.15. Procter & Gamble Hygiene and Health Care Ltd’s 5-yr ROI is 65.58%, and the net profit margin is 17.13%. The fundamental score of the stock is 5.89.

Lakshmi Machine Works Ltd

Lakshmi Machine Works Limited is engaged in the manufacturing and selling of textile spinning machinery, computer numerical control machine tools, heavy castings, and parts and components for the aerospace industry.

The company, as of 23rd January 2024, had a market capitalisation of Rs. 14,538.82 cr. and a stock price of Rs. 13,357.20. Lakshmi Machine Works Ltd’s 5-yr ROI and net profit margin are 8.13% and 7.89%, respectively. The fundamental score of the stock is 3.55.

Note: Fundamental Score is a smallcase proprietary score between 1 and 10 assigned to stocks listed on NSE. It is calculated by considering factors like valuation, profitability, market share growth, financial health and earnings growth of the company. The score helps rank the stock over other stocks in the respective sector. The higher the score, the better the company.

Why invest in the most expensive stocks?

Investing in expensive stocks in India can provide opportunities for long-term growth and the potential for high returns. Here are some advantages of investing in the most expensive stocks in India –

  • Expensive stocks are less vulnerable to market risks due to the few investors holding them, most of whom are long-term institutional investors.
  • Investing in expensive stocks encourages deep research and analysis.
  • Expensive stocks can make investors more patient and mindful in their long-term investment strategy. Having a limited number of shares in a high-value stock can make an investor more likely to hold on to it for the long term, as opposed to selling a portion of it for short-term gain. 

In contrast, having a larger number of shares in a cheaper stock may make it easier for an investor to sell a portion of it for cash to invest in other opportunities.

  • Investing in expensive stocks can provide a hedge against inflation and a potential source of passive income through dividends.

However, it’s important to note that investing in expensive stocks also carries a higher level of risk, so it’s important to do your due diligence and consult a financial advisor before making any investment decisions.

How to invest in the highest priced shares in India?

To invest in the highest priced shares in India, it is essential to follow a strategic approach:

  1. Evaluate the company and the team: Begin by scrutinising the track record and leadership capabilities of the company’s management team. A strong and capable leadership team is often indicative of a well-managed and successful company.
  2. Financial analysis: Conduct a thorough financial analysis to determine whether the stock is overvalued or undervalued. Compare key financial metrics such as price-to-earnings ratio, cash flow, and other relevant indicators. Assess the stock’s volatility and potential downside risk to gauge its overall value accurately.
  3. Consider long-term viability: While the highest-priced shares may be suitable for long-term investments, it’s crucial to align your investment strategy with your budget, financial plan, and risk tolerance. Assess whether the stock fits within your long-term investment goals.
  4. Prioritise budget and risk assessment: Before investing in India’s most expensive stocks, prioritise a thorough budget analysis. Ensure that the investment aligns with your financial capabilities and goals. Simultaneously, conduct a comprehensive risk assessment to understand and manage potential downsides.
  5. Diversification: Consider the principle of diversification to spread risk across different assets. While investing in high-priced stocks, it’s crucial to maintain a diversified portfolio to mitigate potential risks associated with individual stocks.

Remember that investing in the highest-priced shares requires careful consideration and due diligence. By thoroughly analysing the financial health of the company, assessing management capabilities, and aligning your investment strategy with your financial goals, you can make informed decisions to navigate the dynamic landscape of the stock market in India.

Challenges of investing in the most expensive shares in India

Investing in the most expensive shares in India comes with its own set of challenges, and it’s crucial to approach such investments with caution:

  1. Independent research: The mere fact that a share is the most expensive does not necessarily make it a suitable investment. Prioritise independent research to thoroughly understand the company and its industry. Rely on comprehensive analysis rather than solely on the share’s price.
  2. Assess fund structure: Analyse your fund structure and evaluate whether it aligns with the investment in the costliest share in India. Ensure that your investment strategy complements the overall structure of your investment portfolio.
  3. Budgetary considerations: While high returns are desirable, it’s crucial not to hastily overspend your budget. Establish a fixed amount that you can comfortably invest in valuable stocks in India without jeopardising your financial stability.
  4. Differentiate overvaluation and undervaluation: Differentiate between overvalued and undervalued stocks by conducting a comprehensive analysis of earnings, cash flow, and other financial metrics. Additionally, factor in the stock’s volatility to make a well-informed decision before investing in the most expensive share in India.
  5. Diversification for risk mitigation: Instead of concentrating all investments on a single high-priced share, consider allocating your money to add diversification to your portfolio. Diversification helps mitigate risks associated with individual stocks and ensures a more balanced investment approach.
  6. Clarify investment goals and risk appetite: Before investing in the most expensive shares, investors should be clear about their investment goals and risk appetite. Aligning investments with personal financial objectives ensures a more strategic and purposeful approach to the stock market.

Advantages of investing in the costliest shares in India

Here are a few advantages of investing in the most expensive shares in India.

  • High-priced stocks in India are often linked to financially stable and well-managed companies, instilling confidence in long-term value generation.
  • These stocks, with larger market capitalisations, typically exhibit lower volatility, offering a more stable investment environment compared to lower-priced or speculative stocks.
  • The most expensive shares in India belong to companies that regularly pay dividends, providing investors with a consistent cash flow, which is particularly attractive in low-interest-rate scenarios.
  • Expensive stocks often represent companies with solid growth prospects, offering investors an opportunity to participate in their growth trajectory and benefit from potential capital appreciation over time.

Things to remember before investing in the most expensive stocks

An expensive stock doesn’t necessarily mean it is a good investment. Here are some important points to remember before investing in the most expensive stocks in India.

  1. Perform fundamental analysis – check the company’s financial statement to determine its financial health. Research the industry and its trends to see if the company is well-positioned to benefit from them.
  2. Look at the company’s management team and track record to gauge their ability to lead the company.
  3. Compare the stock’s price to its earnings, cash flow, and other financial metrics to determine if it is overvalued or undervalued. Consider the stock’s volatility and the potential for downside risk.
  4. Although expensive stocks are considered good for long-term investments, make sure to invest in them based on your budget, financial plan, and risk appetite. Hence, consider your budget and risk tolerance before investing in pricey stocks.

Conclusion

Investing in the most expensive stocks in India has benefits as well as limitations. Hence, before making any investment decision, it is always beneficial to consult a financial advisor or do thorough research. Tickertape is your one-stop destination for researching, analysing, and investing in stocks. The Asset Pages is the handy ‘Investment Checklist’, which helps make quick analysis on the viability of an investment, and recently, we have introduced the ‘Scorecard’, which makes the checklist quantitative. Learn more about it here, or start exploring the stock pages right away!

FAQs about the most expensive stocks in the Indian stock market

What is the highest share price in India?

The most expensive share in India is MRF Ltd (Madras Rubber Factory Limited). Its share price is Rs. 1,40,997.25 as of 23rd January 2024. 

Should you buy expensive stocks?

Whether to buy expensive stocks depends on various factors, and the decision should align with your investment goals, risk tolerance, and financial strategy. It is worthwhile to seek advice from financial professionals and conduct thorough research before making investment decisions.

Why MRF Ltd share price is so high?

One potential reason for the high price of MRF Ltd’s shares may be that investors view the company positively. Think of it like two smartphones with similar features and specifications. One brand consistently has a higher price than the other. In the stock market, investors look at factors like a company’s financial health and future growth. MRF Ltd’s high share price suggests that many investors think the company is strong and has good potential, making them willing to pay more for its shares.

Who should invest in the highest priced shares?

The decision to invest in an expensive stock is based on the investor’s goals, budget, risk tolerance, company’s profile, profitability and more such factors. Investors may consider investing in high price shares when there are expectations of a growth in the long term or when the stock is priced lower than its value. However, before deciding to invest, it’s important for investors to either research on their own or consult with a financial advisor.

Can highest priced stocks be profitable for investors? 

Investing in the highest priced stocks can be profitable for investors, but it comes with certain considerations. The high price of a stock doesn’t guarantee profitability on its own. Investors need to assess various factors, such as the company’s financial health, growth prospects, and market conditions. It’s also important to align the investment with the financial goals. 

Anjali Chourasiya
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