MRF Share price, MRFShare:Balloon seller set up biggest tire company, today salary will be less to buy a share – mrf stock hits rs 1 lakh mark, how a ballon maker become India’s costliest…
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45 percent jump in 1 year
Chennai based MRF company has a total of 4241143 shares out of which 30,60312 shares are held by public shareholders. 11,80,831 shares are held by the promoters of the company. The stock of the company has gained more than 45 per cent in the last one year. If we compare the company’s stock in one year, then on June 13, 2022, the share price of MRF on BSE was Rs 68561.25. After one year, on June 13, 2023, MRF share price reached Rs.100300 on BSE.
How the company started
Very few of you would know the full form of MRF. MRF stands for Madras Rubber Factory. Its foundation was laid in the year 1946 by a balloon seller. Of. M Mammen Mappillai (KM Mammen Mappillai) used to sell balloons earlier. Born in a Christian family in Kerala, Mappillai’s father was a freedom fighter. He was arrested during the freedom struggle. After his father went to jail, the entire responsibility fell on Mappillai. There were eight brothers and sisters in the house. To run the family, he started selling balloons on the streets. After selling balloons for 6 years, in the year 1946, he decided to do rubber business.
toy factory for kids
Mappillai then started making toys for children. By the year 1956, his company had become a big company in the rubber business. Gradually he got inclined towards the tire industry. In the year 1960, he formed a private limited company of rubber and tyres. Later, to increase the business, he tied up with Mansfield Tire and Rubber Company of America. By the year 1979, the company’s business had spread across India and abroad. After this, the company sold its stake in MRF to American company Mansfield and renamed the company as MRF Limited.
Country’s number 1 company
Mappillai died in 2003 at the age of 80. His sons took over the business and soon his company became No.1. The tire maker showed great interest in sports. MRF Racing became the number 1 company in sectors like Formula 1, Formula Cars, MRF Motocross, MRF , MRF Bats. Most of the manufacturing units of this company doing business in India and abroad are in Kerala, Puducherry, Goa, Chennai and Tamil Nadu. The company manufactures tyres, treads, tubes, conveyor belts, paints, toys and sports goods. In the year 2007, the company crossed $1 billion turnover.
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