Top 10 Most Expensive Shares in India 2025

Stock prices vary across listed companies, and in the world of the stock market, the expensive shares are perceived as costly by retail investors, even though they may not assess the company’s fundamentals.

Expensive shares refer to stocks of companies that command a high market price per share. These stocks are often associated with well-established, financially strong, and high-growth companies. In this article, we’ll explore the Most Expensive Share in India. Let’s dive in to know more.

What is an Expensive Share?

The Expensive Shares refer to stocks with a high market price per share. While they may appear costly, it doesn’t necessarily mean they are overvalued or undervalued. A stock price alone does not indicate its value. Factors such as the company’s business model, financials, and its future plans need to be considered before jumping to conclusions. To help you get started, here are the 10 highest-priced shares in India based on their current market prices.

List of Top 10 Most Expensive Shares in India

Here is the list of the top costliest shares in India shortlisted based on their stock price as of  1st April 2025

Overview of the Most Expensive Stocks in India

Now that we have the list of the costliest shares in India, let's discuss the key insights of each to understand their strengths and weaknesses.

1) Elcid Investments 

Elcid Investments Ltd, a non-banking financial company (NBFC), is the most expensive share in India and is primarily engaged in investment activities such as equity shares, debentures, mutual funds, and other financial instruments. A significant portion of its investment includes a 2.95% stake in Asian Paints Limited as of the December 2024 quarter.  The company earns its income through dividends, interest, and investment profits. 

The shares were trading in single digits and it saw a surge after the special call auctions without price bands, typically used for price discovery among investment holding firms, delivered 44.53 lakh percent from October 2017.

• Market Cap: Rs. 2,650 crore 

• Current Market Price: Rs. 1,32,506

• Stock P/E: 14.1

• Debt to Equity: 0

• Return on Equity (RoE): 1.53%

2) MRF 

MRF Ltd, formerly known as Madras Rubber Factory, is one of India’s largest tyre manufacturers & known as the 2nd most expensive share in India. The company operates across segments such as truck, car, motorcycle, tractor, bus, off-road vehicle, and others. It also deals in treads, tubes, paints and coatings, conveyor belts, toys, and sports goods. 

According to Care Ratings, MRF commands approximately 30% market share in domestic tyre unit sales. In FY24, revenue contribution primarily came from Truck & Bus tyres (44%), followed by 2-Wheelers & 3-Wheelers (15%), Small & Light Commercial Vehicles (10%), Passenger Vehicles (11%), and Others (12%). Over the past decade, the stock has delivered approximately 203% returns.

• Market Cap: Rs. 47,974 crore

• Current Market Price: Rs. 1,13,037 

• Stock P/E: 27.4

• Debt to Equity: 0.18

• Return on Equity (RoE): 12.6%

3) Page Industries 

Page Industries is India’s leading player in the India’s premium innerwear and leisurewear market, known for its exclusive license to manufacture and distribute Jockey (innerwear, activewear) and Speedo (swimwear). Page Industries operates 15 manufacturing plants in Karnataka and 1 in Tamil Nadu. It has a long-term agreement with Jockey International Inc. that is valid until December 31, 2040, as per ICRA. 

The stock has delivered approximately 190% over the past decade and stands 3rd in the most expensive shares in India.

• Market Cap: Rs. 46,722 crore

• Current Market Price: Rs. 41,960

• Stock P/E: 69.4

• Debt to Equity: 0.14

• Return on Equity (RoE): 38.4%

4) The Yamuna Syndicate 

The Yamuna Syndicate Ltd (TYSL) is a holding company with a 45% stake in Isgec Heavy Engineering Limited (IHEL), its associate company. As of the December 2024 quarter, its revenue was primarily from Oil & Lubricants (59.47%), followed by Batteries (33.52%), Electricals & Others (5.32%), and Agriculture Products (1.66%), respectively. While trading contributes the most to its topline revenue, the profits are driven by its stake in IHEL. The stock has delivered approximately 1,533% from August 2018.

• Market Cap: Rs. 1,057 crore

• Current Market Price: Rs. 34,388

• Stock P/E: 8.29

• Debt to Equity: 0

• Return on Equity (RoE): 9.71%

5) Honeywell Automation India 

Honeywell Automation India Limited (HAIL), a subsidiary of the Honeywell group, offers integrated automation and software solutions. It serves industries aerospace, energy, and others across India. It provides services such as Industrial Automation Solutions, Building Management Solutions, Smart and Connected Solutions, and others. At the World Economic Forum (Davos), the CEO stated the company's target of $1 billion in revenue for 2025. The stock has delivered approximately 285% in the past 10 years.

• Market Cap: Rs. 29,697 crore

• Current Market Price: Rs. 33,555

• Stock P/E: 55.8

• Debt to Equity: 0.02

• Return on Equity (RoE): 14.8%

6) Abbott India 

Abbott India Ltd, a subsidiary of Abbott Laboratories, the company is engaged in pharmaceuticals, diagnostics, and nutritional products. It operates a manufacturing facility in Goa with exports contributing 1.37% to FY24’s total turnover. Its top-selling brands include Arachitol Nano (Vitamin D deficiency), Colospa (Irritable bowel disease), Cremaffin (Constipation), Creon (Pancreatic insufficiency), and others. The stock has delivered approximately 659% in the last 10 years.

• Market Cap: Rs. 64,250 crore

• Current Market Price: Rs. 30,245

• Stock P/E: 48.1

• Debt to Equity: 0.02

• Return on Equity (RoE): 34.9%

7) Shree Cement 

Shree Cement is one of India's largest cement manufacturers with a production capacity of 56.40 million tonnes per annum (MTPA) as of June 30, 2024, and plans to expand it to 80 MTPA by FY28. As per Care Ratings, Shree Cement is expected to spend approximately Rs. 12,000 crore in capex at the consolidated level for FY25 to FY27. Region-wise sales volume contribution is dominated by the Eastern Region with 26% to 27%, followed by 16% to 17% by the Central Region, 8% to 9% by the West Region, and 5% by South India. The stock has delivered approximately 183% in the past decade.

• Market Cap: Rs. 1,08,581 crore

• Current Market Price: Rs. 30,093

• Stock P/E: 88.8

• Debt to Equity: 0.08

• Return on Equity (RoE): 12.2%

8) 3M India 

3M India, a subsidiary of U.S. based 3M Company, operates in sectors including Industrial & Safety, Healthcare, and Consumer Products. It has manufacturing facilities in Ahmedabad, Pune, and Bengaluru. Its prominent brands under their portfolio include Scotch-Brite & Post-it. The stock has generated approximately 263% over the last 10 years.

• Market Cap: Rs. 31,822 crore

• Current Market Price: Rs. 28,200

• Stock P/E: 57.3

• Debt to Equity: 0.01

• Return on Equity (RoE): 24.8%

9) Bosch 

Bosch Ltd is a major player in automotive and industrial technology, offering solutions across Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology.  The stock has delivered only approximately 13% in the past decade. Its business is spread across products and services under Powertrain Solutions, Vehicle Motion, Mobility Electronics, Drive & Control Technology, Power Tools, Home Comfort & others.

• Market Cap: Rs. 82,463 crore

• Current Market Price: Rs. 27,943

• Stock P/E: 40.8

• Debt to Equity: 0

• Return on Equity (RoE): 16%

10) Bombay Oxygen Investments 

Formerly a manufacturer of industrial gases under Bombay Oxygen Corporation Ltd, it has now transitioned into an NBFC (Non-Banking Financial Institution). It is engaged in investing activities through shares, mutual funds, & other financial securities and does not accept public deposits. Since April 2018, the stock has delivered approximately 252% returns.

• Market Cap: Rs. 332 crore

• Current Market Price: Rs. 22,110

• Stock P/E: 8.61

• Debt to Equity: 0

• Return on Equity (RoE): 14.5%

Note: The above information is updated as of 1st April 2025 and is subject to change daily.

What makes Share Expensive?

A high share price doesn’t tell you everything about a company, there are many reasons behind the costliest shares in India. So let’s explore them:

Low Share Capital 

Shares may appear expensive due to low share capital, where the market value is distributed across a limited number of shares. While many companies chose not to split their stock, or through bonus shares, resulting in a steady rise in share price over time. In some cases, like Elcid, the price surges are a result of a special call auction without price bands, conducted by stock exchanges for price discovery, often involving low liquidity holding companies.

Premium Valuation 

Expensive shares often trade at a premium valuation, reflecting future growth potential, investor confidence, and strong brand equity. Companies with a competitive advantage may command a higher Price to Earnings (P/E) & Price to Book (P/B) ratios, as investors are willing to pay more for consistent performance and their leadership position in the Industry, which can drive share prices higher.

Strong Fundamentals

Over time, a company’s financial fundamentals can influence its share price. Companies considered as Industry Leaders often showcase features such as higher operating and net profit margins, outperforming Return on Equity (RoE), Return on Capital Employed (RoCE) compared to their peers, and a low or zero debt-to-equity ratio.  Industry-specific metrics coupled with their operational efficiency hold the key to long-term investors.

Does the High Share Price Indicate a Strong Company?

Not Necessarily! A high share price doesn’t always indicate a strong company. The Investors should assess fundamentals like revenue, profitability, debt, and market cap. Lower-priced stocks can be highly valuable, while costly shares may not necessarily have a business strength as well.

Difference between Expensive Price vs Most Valued Companies

Many investors often confuse a high share price with a high company valuation, but these are two entirely different metrics. While an expensive share has a high market price, a highly valued company is defined by its overall market capitalization. The table below highlights the key differences

Benefits And Risks of Investing in Expensive Shares in India

Investing in high-priced shares can offer unique advantages, but they also come with certain risks. Investors need to weigh both sides before making decisions based solely on the share price. The table below outlines the key benefits and risks

Alternatives to Expensive Stocks

Investors who find shares expensive can consider investing in mutual funds that hold these shares. This allows investors to benefit from the company's development, growth, and performance, with smaller investment amounts. Platforms like Rupeezy Trading App, offer options to start investing after going through KYC & other formalities, to start investing. 

Should You Invest in Expensive Stocks?

It depends on factors such as the company’s business model, fundamentals, industry outlook, brand value, product diversification, future plans, valuation, benefits & risks from Government policies, and other parameters that need to be considered. Always consult a financial advisor and assess your risk appetite, investment horizon, and purpose before making a decision.

Conclusion

In this article, we looked at the most expensive shares in India whose prices are higher than the rest of the market. However, investors need to analyse and understand the returns and risks involved in the investment to make informed decisions. Investment decisions are built on risk appetite, financial goals, and research, not just on share prices.