These stocks could have turned your ₹10,000 into ₹1 crore
What's the story
Investing in the stock market requires skill, foresight, and patience. It's not always easy to predict market trends or evaluate a company's potential.
However, those who invested ₹10,000 each in JSW Steel, Titan Company, and Bajaj Finance 10 years ago when they were just penny stocks (trading below ₹10), would have become millionaires by now.
These three stocks have outperformed others on the Nifty 50 index over the past decade.
Stock #1
JSW Steel's success story
JSW Steel, a penny stock that traded at ₹1.02 levels in August 2004, is now hovering around ₹940.
This translates into an impressive 923 times return over the last decade. An investment of ₹10,000 in this stock back then would be worth ₹92.3 lakh today.
The company's focus on its India operations and capacity building at the right time has contributed to its success.
Stock #2 & #3
Bajaj Finance and Titan Company
Bajaj Finance and Titan Company have also seen significant growth over the past decade.
Their stocks have surged by 868 times and 520 times, respectively, turning a ₹10,000 investment into ₹86.8 lakh for Bajaj Finance and ₹52 lakh for Titan Company.
These companies were well-positioned to capitalize on India's growth, focusing more on domestic operations rather than foreign markets.
Market performance
Other Nifty 50 stocks that have performed well
Other stocks on the Nifty 50 index, such as Eicher Motors, Asian Paints, Britannia Industries, Adani Enterprises, Divi's Laboratories, and Apollo Hospitals have also given phenomenal returns over the past decade.
The Nifty 50 index itself has gained 1,455% during this period.
Despite these successes, analysts warn that replicating this growth in the next decade could be challenging due to factors like limited room for further expansion in valuation multiples.