Multibagger stock: If you want to become a millionaire from the stock market, then you should have the quality of patience. For stock market investors, there is no other short cut to getting rich than following the ‘buy, hold and forget’ strategy. The famous investor Warren Buffett once said that if an investor cannot hold a stock for 10 years, then he should not even think of holding a stock for 10 minutes. Shares of GRM Overseas Ltd are a living example of this. This stock has given a stock return of maximum 571,850 percent to its shareholders.
Shares rose by 10 paise to Rs 571.95
The shares of GRM Overseas Company increased from 10 paise (October 1, 2004 on BSE) to Rs 571.95 per share on 1 October 2004 by 10 paise. In 18 years, the company’s stock has given a return of about 5 lakh 71,850 percent. The shares of GRM Overseas were at Rs 1.85 per share on 23 March 2012, which has now reached Rs 571.95. The stock has given a return of around 30816.22% in ten years. The stock has given a return of 9,545.03 per cent in five years. Five years ago on March 29, 2017, the share price was Rs 5.93.
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The price of this share (GRM Overseas Ltd share price) on BSE was up from Rs 7.93 on 7 March 2020 to Rs 571.95. It has given a strong return of around 7112.48 per cent in three years. In one year, the stock rose to Rs 571.95 from Rs 85.52 (March 19, 2021 on BSE). In 6 months, this stock has increased from Rs 211.63 to Rs 571.95. However, in this year 2022, the stock is in a loss of 12.74 per cent so far. The stock has lost 4.49% in the last five sessions.
Investors benefited in crores
According to the share price history of GRM Overseas Ltd, if an investor had invested Rs 1 lakh at the rate of 10 paise in this stock 18 years ago and had kept the investment till date, then today this amount would have been Rs 57.19 crore. At the same time, if an investor had invested Rs 1 lakh in this stock 10 years ago at the rate of Rs 1.85, then today this amount would have become Rs 3 crore. An investment of Rs 1 lakh in five years would have been Rs 96.45 lakh. An investment of Rs 1 lakh in three years would have been Rs 68.57 lakh. At the same time, an investment of Rs 1 lakh would have become Rs 6.68 lakh in a year. An investment of Rs 1 lakh would have become Rs 2.70 in six months.
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What is the business of the company?
GRM Overseas is an Indian company engaged in the manufacture and trading of rice. The company produces different varieties of rice for its customers across the world. Its varieties include Traditional Basmati Rice, Super Basmati Rice, Indian 1121 Super Rice, Indian Long Grain Rice, Sharbati Rice and Sugandha Rice.