NEW DELHI, Nov 16: As stock market continues its record-breaking rally, there are many shares with per-unit price running into thousands of rupees and equal the cost of buying a smartphone, a LCD television or even a split AC.
Helped by the new government’s reform push and growing expectations for better economic scenario, the foreign funds have been on a buying spree in stock market and the benchmark indices Sensex and Nifty have scaled new peaks above 28,000 and 8,400 levels, respectively.
The Sensex has rallied by 33 per cent so far this year, making India the best performer among the world’s ten biggest markets.
At the same time, stock prices of at least 37 companies, out of the top-100 listed firms in India, now cost Rs 1,000 or above for one share, as per the stock exchange data.
Leading the charts in terms of per-share value, Bosch commands a share price of Rs 16,571 apiece, while Eicher Motors and Shree Cements have share prices of Rs 14,001 and Rs 9,077, respectively.
The market value of just one share of P&G, GSK Consumer Healthcare and Nestle is also in the range of Rs 5,000-6,500.
Companies like Maruti Suzuki, Dr Reddy’s, Oracle Financial Services, Grasim and Infosys command a price of Rs 3,000-4,000 per share.
For blue-chips like TCS, SBI, Bajaj Auto, Ultratech Cement, Tech Mahindra and Hero MotoCorp, the per-share price is Rs 2,000-3,000, while others in this bracket include United Spirits, Colgate and GSK Pharma.
Those with share price in the range of Rs 1,000-Rs 2,000 include ICICI Bank, HDFC, Aurobindo Pharma, ACC, Britannia and AB Nuvo.
Outside the top-100 companies also, there are many with share prices running into thousands of rupees and one notable stock among them is MRF which currently commands a share price of Rs 32,337.60 apiece. (PTI)
Follow our WhatsApp channel