The exact formula for investing in the stock market is that you invest in it slowly and for a long time. This can be called a formula for wealth creation, which is effective for everyone. Of course, for everyone to be effective, it is necessary for the stock to be cheap and that is why today we have brought the story of a cheap stock, which is proving to be a multibagger.
this is the current price
Understand this with an example, which will show how cheap this share is. If you eat even a plate of samosa, then a bill of 20-30 rupees is made. Only then this share comes. We are talking about the banking stock of South Indian Bank. Right now its one share price is only around Rs.20. Meaning you can buy one share of it for the price of two samosas.
Such a boom in the whole year
It is not just a cheap stock, but also a multibagger. Take a guess yourself by looking at the returns. Just a year before now i.e. on July 22, 2022, the price of one share was only Rs.7.95. Today in Friday’s trading, its price declined slightly and after that it closed at Rs.20.65. In this way, in the last one year, its price has gone up by 160 percent i.e. almost 3 times.
money growing like this
Looking at its returns, if an investor had invested Rs 38,500 in this stock a year ago, the value of his investment would have been Rs 1 lakh today. On the other hand, if an investor had invested Rs 1 lakh, he would have got Rs 2.60 lakh today.
Bank is old since independence
Right now the market capitalization of this bank is Rs 4,320 crore. Although this bank is very old and it was established in 1929 itself, but the business of this mid-sized bank is mainly spread in Kerala. Its 52 week high is Rs 23.70, while its 52 week low is Rs 7.80.
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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