Stock market investors often look for cheap stocks that have great potential for growth. Such cheap shares are called penny stocks in the language of the market. The biggest problem with penny stocks is that they carry a lot of risk. However, such well-chosen shares make their investors millionaires.
price is so high
Today we are going to tell you about one such stock, which was once a penny stock and which also gave millionaire-making returns to its investors. Yes, it is another matter that in today’s time its price has increased a lot. We are talking about Vinati Organics Limited, whose price was once only around Re 1 and today it has crossed Rs 1800.
poor performance in the short term
The share of Vinati Organics was trading at Rs 1,811 with a slight decline at 2 pm on Monday. It hasn’t even performed well in the recent past. It has declined by more than 12 per cent in the last one year, while this year it is in a loss of around 10 per cent. It has fallen more than 1 percent in the last 5 days.
Recent returns like this
The all-time high of this stock is Rs 2,511, which it achieved in September 2019. Currently, its 52-week high is Rs 2,377, which was achieved in September 2022. In this way, this stock has proved to be a loss deal in the short term.
Such a flight in long term
On the other hand, if we look at the long term, then the whole picture changes. Its price has gone up by 275 percent in the last 5 years. About 19 years ago, in July 2004, the price of its one share was just Rs 1.05. This means that in the last 19 years, this stock has made an astonishing jump of 1,73,800 per cent. It is such a leap, which seems imaginary.
millionaire turned investor
Looking at this return, if an investor had invested only Rs 1 lakh in this stock 19 years ago, he would have had assets worth around Rs 17.40 crore today. At the same time, the investors who invested even 5-6 thousand rupees at that time would have been counted among the millionaires today.
Disclaimer: The information provided here is for information only. It is important to mention here that investing in the market is subject to market risks. Always take expert advice before investing money as an investor. It is never advised here to invest money on behalf of ABPLive.com.
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