₹2.73 to ₹907: Multibagger penny stock turns ₹1 lakh to ₹3.32 crore in 22 years

Multibagger penny stock: The Indian stock market has been volatile in last few years due to various global cues like Russia-Ukraine war, Covid-19 etc., thus, making it crucial for long-term investors to put in their money.

One such stock which has rewarded investors with significant gains despite market volatility is Jindal Steel and Power.

Let's take a look at the share price history of Jindal Steel and Power. In the last 22 years, Jindal Steel and Power shares have skyrocketed from ₹2.37 to ₹907 apiece.

To put it in perspective, an investment of ₹1 lakh made 22 years ago in the stock and held over time would have grown significantly to ₹3.32 crore.

Jindal Steel and Power stock movement

Jindal Steel and Power share price opened in red on Wednesday's trading session amid weak market sentiments. At 11:45 am, the stock touched an intraday low at ₹882.05 per share on National Stock Exchange (NSE).

In the long-term, the stock has proved to be wealth creating machine for its investors as it has risen over 639.29 per cent in past five years. In last one year, the stock gained as much as 12 per cent.

However, Jindal Steel and Power stock has remained volatile in short-term. The shares have fallen over 11 per cent in over six months, however, has surged 8.22 per cent in a month.

In terms of year-to-date (YTD), the stock has descended 4.33 per cent, falling from ₹938.10 to the current market price.

Jindal Steel and Power financial overview

Jindal Steel and Power's net profit for the quarter ending December 2024 dropped sharply to ₹950.88 crore, a decline of over 50% compared to ₹1,927.99 crore in the same period last year.

Steel sales for Q3FY25 increased modestly by 5%, reaching 1.90 million tonnes (MT) compared to 1.81 MT in the year-ago quarter. However, steel prices in India remained subdued, impacting revenue growth. Consequently, the company's revenue from operations was nearly flat at ₹11,750.67 crore, marginally higher than ₹11,701.32 crore in the corresponding quarter of the previous year.

Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.