Multibagger Stock: 9800% return from this tire company, filled with investors – multibagger stock mrf share price jumps at rocket speed and multiplied 98 times investors money

Multibagger Stock: The rally in the shares of tire manufacturing giant MRF (Madras Rubber Factory) gave bumper returns to the investors. In the last twenty years, it has increased the money of investors by about 9800 percent. The rise of its shares was such that its price has reached close to one lakh rupees and it is the most expensive stock in the country. Shares of MRF have gained more than 11 per cent this year. Its current price (MRF Share Price) is Rs 82297.70. Its market cap is Rs 34,903.63 crore.

Capital increased 97 times in 20 years

The shares of MRF were at a price of Rs 841.10 on 18 October 2002, which has increased in 20 years to a price of Rs 82297.70 on 17 October 2022. This means that Rs 1 lakh invested in MRF about 20 years ago would have become about Rs 98 lakh by now.

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Great bullish trend even in shorter time frames

MRF has proved to be a multibagger for investors in the long run. However, even if we talk about the short time frame, it has given excellent returns to the investors. This year, on 24 February 2022, it had slipped to a one-year low of Rs 63 thousand.

However, after that it accelerated and by September 15, 2022, it had gained about 49 percent to reach Rs 93887, which is a record high of 52 weeks. However, it slowed down a bit after that and is currently at a discount of 12 per cent from this high.

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Details about the company

MRF is the largest tire manufacturer in the country. It manufactures and sells tires for passenger cars, two wheelers, OTR and trucks. Talking about the financial health of the company, according to the data available on BSE, its net profit has decreased on a quarterly basis in the first quarter of the current financial year, but revenue has increased.

Its net profit declined from Rs 156.78 crore to Rs 112.36 crore in April-June 2022, while revenue rose to Rs 5598.92 crore from Rs 5200.29 crore in the same period.

Disclaimer: The information provided here is based on share performance. It is important to mention that investing in the market is subject to market risks. Always consult an expert before investing money as an investor. It is never advised to invest money here on behalf of Moneycontrol.

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