Curated By: Business Desk
Last Updated: October 12, 2023, 18:26 IST
The share price of Mayur Uniquoters Ltd has surged to Rs 563 currently from Rs 4 in 2008.
An investment of Rs 72,000 in this stock would have turned you a crorepati today.
Imagine you made an investment of just Rs 72,000 in a stock and in 15 years, you get a return of Rs 1 crore! It could be unbelievable, but multibagger stocks make such Return on Investment (ROI) possible. The multibagger stock we are talking about today is Mayur Uniquoters Ltd. Such stocks are essentially inexpensive equities with solid fundamentals that promise excellent return on investment.
In 2008, the share price of Mayur Uniquoters was around Rs 4. On October 12, 2023, the Mayur Uniquoters stock closed at Rs 563 per share, up 0.46 percent. Currently, the stock’s market capitalisation stands at Rs 2,475 crore.
In the last 15 years, this stock has witnessed a whopping increase of 14,000 percent in value. It suggests that the current value of investments made in this multibagger stock would have exceeded Rs 1 crore if an investor had purchased 18,000 shares of this company for Rs 72,000 in 2008. Notably, the Mayur Uniquoters stock has given 36 percent return so far this year. However, the last one year returns have been a little sluggish as it gained only 18 percent.
Mayur Uniquoters produces synthetic leathers, which are used in manufacturing of automobiles, shoes and garments. The automotive industry contributes 50 percent of the company’s sales. The company provides synthetic leather to manufacturers of high-end vehicles like Mercedes and BMW.
Mayur Uniquoters is the leading company on the synthetic leather market in India, as well as one of the biggest players in the segment worldwide. It produces synthetic or artificial leathers using polyvinyl chloride. In coming years, it plans to increase the sales of polyurethane.