This stock brought amazing returns, whoever invested 74,000 became a millionaire, broker’s opinion – more money to come

Multibagger Stocks: Abrasives and silicon carbide manufacturer and exporter Grindwell Norton has made its long-term investors rich. This multibagger stock has turned investors rupees 74,000 into rupees 1 crore in just 20 years. The company also delivered excellent results in the fourth quarter of fiscal 2023. As a result, the brokerage firm now anticipates continued strength in this stock and advises investors to invest in it. However, on Monday 15th May, Grindwell Norton shares saw a slight decline and the stock slipped 0.66 per cent to close at Rs 1976.75 (Grindwell Norton share price).

money control According to a report, the company’s market capitalization is 21,886.58 crore. Grindwell Norton had a terrific March quarter due to a pick-up in industrial demand and the company’s recent acquisition of PRS Permacel. Consolidated revenue increased 19 percent year-on-year to reach Rs.660 crore in the March quarter. Net profit rose 11 per cent to Rs.992 crore over the same period due to higher other income.

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ICICI Securities recommends buying
Domestic brokerage firm ICICI Securities expects Grindwell Norton earnings to remain strong on a strong product portfolio as well as strong demand from the industrial, construction, paint, infrastructure and metals finishing sectors. According to the brokerage firm, strong growth in the auto, construction and housing sectors will receive further support. The broker has assigned an Add rating to the stock with a target price of Rs.2,215.

74,000 made 1 crore
Grindwell Norton share price on May 23, 2003 was Rs.14.61. Now it has risen to 1976.75 rupees. That is, in a period of 20 years, this stock has increased the capital of investors by 13430 percent. If an investor invested and held just 74,000 rupees in that stock 20 years ago, today their investment is worth 1 crore rupees. Over the past year, this stock is up about 16 percent, giving investors a return of about 8 percent in 2023. Grindwell Northern Shares has returned 287 percent over the past five years.

(Disclaimer: The stocks mentioned here are based on advice from brokerage houses. If you are interested in investing in these stocks, please consult a certified investment adviser first. News18 is not responsible for your gain or loss of any kind. Will happen.)

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