Investment in MRF in 1990 is now worth Rs 130 crore!
- MRF has risen by over 148 times in 17 years
- MRF has touched a high of Rs 74,100-per piece
- Analysts has increase MRF target price further
“The stock market is a device for transferring money from the impatient to the patient.” – Warren Buffet
This quote would definitely be a success story for those equity investors who have invested in MRF shares for long-term purposes.
Madras Rubber Factory (MRF) Limited commonly known as MRF embarked its journey on stock exchanges on September 18, 1996, and since then it has touched milestone and became the most expensive stock on the indexes.MRF was founded 71-years ago by K M Mathew as a toy balloon manufacturing unit in 1946 at Tiruvottiyur, Madras (now Chennai). The company has turned out to largest manufacturer of tyres in India and has also increased it footholds in businesses like rubber products including tyres, treads, tubes and conveyor belts, paints and toys.
A person was in a coma since 1990 due to an accident and his son looked after him, after his son’s untimely death his grandson looked after him, suddenly he gained consciousness in 2017 and informed his grandson that he does not possess much but he had bought MRF’s 20000 shares in 1990. His grandson had approached Zee Business over online to know it’s value, hear it live
— Zee Business (@ZeeBusiness) September 11, 2017
- Source: http://www.zeebiz.com/companies/news-this-investors-meagre-investment-in-mrf-in-1990-is-now-worth-rs-130-crore-24192
- Information courtesy: Whatsapp message from Kiran Pandya