MRF Share Price Crosses Rs 1 Lakh-Mark Is It Right Time To Invest; Everyone wants shares now worth lakhs, is this the right time to invest?
Outlook of MRF Share Prices
In the long term, the share price of the company can go up to Rs 1,50,000. The price is likely to increase to Rs 1.15 thousand in the near future and to Rs 1.25 lakh by Diwali. Shares of MRF rose 1.37 per cent to a new 52-week high of Rs 1,00,300 per share in the early session on BSE on Tuesday. But on May 8, MRF shares crossed a psychologically important level in the futures market.
Right time to invest in MRF share?
According to experts, the company’s stock is currently at a very high valuation and is an expensive stock. So it would be appropriate to wait for a few days now. On the other hand, those who own these shares can book profits. Bloomberg reports that the stock has just one buy, two holds and eight sell recommendations. Similarly, the stock has been assigned a 12-month target price of Rs 84,047, indicating a 16% downside from current levels.
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The reason for the rise in MRF shares
A major reason for the bullishness of the finished company’s stock is its volume. According to experts, MRF stock has been increasing steadily and the company has given good returns to investors so far. In such a situation, investors’ confidence in this stock has increased and due to good buying, the stock has also increased.
Most expensive stocks in India
MRF share tops the list of the most expensive stocks in the domestic market. Honeywell Automation, whose shares were trading at Rs 41,152 yesterday, is second on the list followed by Page Industries, Shree Cement, 3M India, Abbott India, Nestlé and Bosch.
