2024-08-04 23:07:37
New Delhi: The shares of another company associated with the Tata Group have done wonders. The name of this auto component manufacturing company is Automobile Corporation of Goa Limited (ACGL). Its shares broke the record of 52 consecutive weeks last week. Investors have made huge profits due to this excellent performance. ACGL is actually a joint venture of Tata Motors and EDC (formerly Economic Development Corporation of Goa, Daman and Diu Limited). It was established in Goa in 1980. The shares of this company have jumped so fast that the money of the investors has increased manifold. With a 40 percent return in just one week, it would not be wrong to call ACGL shares a multibagger.
Shares have gained 138.32% so far this year
According to BSE data, ACGL shares have risen 138.32 per cent so far in 2024. The shares have risen by 157 per cent in the last one year. While in the last two years it has given a return of 237 per cent. Those who have invested in ACGL since 2021 have got a return of more than 640 per cent, which is much more than the multibagger return.
Convert 1 lakh into 7 lakh in three years
If someone had invested Rs 1 lakh in the shares of this Tata Motors promoted company three years ago, then today their investment would have increased manifold. On August 3, 2021, the share of ACGL on BSE was at Rs 473.5, which has now increased to Rs 3363.25. In this way, an investment of Rs 1 lakh made three years ago would have become Rs 7 lakh today.
Tata Motors holds 48.98% shares of ACGL i.e. 29,82,214 equity shares. The company has reported a profit of Rs 18 crore with a 77% increase in its PAT in the April-June 2024 quarter. During this period, the company’s revenue grew by 34.67 percent to Rs 203.32 crore.
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