MRF Share Price: How a balloon seller fitted his tires to India’s development vehicle, do you know the story of MRF’s muscle man?
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Madras Rubber Factory ie MRF is the leading tire manufacturing company in India. Its foundation was laid in 1946 by young entrepreneur KM Mammen Mappillai. Mappillai was born in a farming family in Kerala.
Speed is very important in the development of anything. It is very important to have good tires for the speed to remain constant. When it comes to tyres, the only name that comes to our mind is MRF. These days this name is very much in headlines. The price of one share of MRF, which has become the most expensive stock in the stock market, has crossed Rs 1 lakh. MRF’s stock made history on Tuesday in the stock market. After a long wait, MRF became India’s first Lakhtakia stock. The company whose foundation was laid by a person who sold a balloon, he did not even know that one day his company would become one of the biggest companies in the country.
MRF with Lakhtakia share
As soon as the market opened, the stock of MRF opened with an increase on NSE and this stock reached Rs 100050. In such a situation, MRF has become the first company in the Indian stock market whose share has crossed the Rs 1 lakh mark. The company’s stock closed at Rs 99950.65 after reaching Rs 100300. MRF stock has gained more than 45% in one year. The stock had earlier touched the Rs 1 lakh mark in the futures and options segment in May.
MRF business started by making balloons
Madras Rubber Factory ie MRF is the leading tire manufacturing company in India. Its foundation was laid in 1946 by young entrepreneur KM Mammen Mappillai. Mappillai was born in a farming family in Kerala. He did his studies from the Kitchen School in Kerala. When he was in college, his father KC Mappillai used to run a newspaper and a bank. But due to his involvement in the freedom movement, the Travancore government sent him to jail and seized all the property by locking the newspaper and bank. Later, with a loan from his relatives in Madras, Mappillai started a balloon manufacturing factory. It was named the Madras Rubber Factory. From there he used to make balloons and fill them in bags himself and go out to sell them in the markets. By 1949 they also started making toys, contraceptives.
MRF’s Muscleman
He met his cousin who had a plant for retreading tyres. Then he started making tread rubber with his brother. The rubber made by him started luring the consumers towards him. In no time, the fame of MRF increased so much that the multinational companies associated with it started withdrawing their hands from this market. If you look closely at the MRP people, you can see a stout man carrying a tire in his hand. It has been named Muscleman. In the year 1964, MRF’s Muscleman was born.
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