New Delhi, Nov. 17 -- Tyre make MRF, known for holding the title of the most expensive stock in the Indian stock market, has witnessed a further increase in its value, making it even pricier, as the recent rally has led it to surge 54% from its March lows to trade at the current level of Rs.157,165.

For the first time in October, the stock crossed the Rs.1.6 lakh mark to hit a fresh record high of Rs.1,63,600 apiece, marking another key milestone in its sustained rally.

However, analysts believe the current rally may reverse in the near term as the company's September quarter numbers failed to impress them, even though margins came in higher than their estimates.

Domestic brokerage firm Motilal Oswal said that the recent rally in the M...