Well, if you are dreaming of becoming a crorepati then investment in one share was enough if invested in Reliance Industries Ltd (IPO) back in 1977. The stock has since then more than doubled investors’ wealth in every 2.5 years.
“In just 4 decades, Reliance Industries has grown from a small startup to one of the largest, most admired companies in the world,” Mukesh Ambani, said in its 40th annual general meeting on Friday.
Also check - Reliance AGM LIVE
“One thousand rupees invested in Reliance shares in 1977 is today worth Rs 16,54,503 – over 1,600 times more valuable,” he said.
If somebody would have invested Rs 10,000 in the year 1977, the amount would now cross Rs1 crore mark in the year 2017.
The market capitalization has multiplied from ten crore to over five lakh crore or 50,000 times from Rs 10 crore in the year 1977.
The total assets have increased from Rs33 crore to over Rs700,000 crores and a multiple of over 20,000 times, Mukesh Ambani said.
He further added that the turnover has grown from 70 crore in 1977 to over 330,000 crore today – an increase of nearly 4,700 times.
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
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