Jobaaj Stories
As major blue-chip stocks have shown record correction, we at Jobaaj have reported about small-cap stocks which have registered record growth. This time it is a stock called Orient Bell.
Orient Bell Limited (OBL) is a tiles manufacturing company that was established in the 1970s. It prepares a variety of tiles which include Floor, Wall, Bathroom, Kitchen, Marble, Wooden, Vitrified and Ceramic tiles. The company has manufacturing units in Sikandrabad (Uttar Pradesh), Dora (Gujarat), Hoskote (Karnataka), India, and other joint venture units in Morbi (Gujarat), generating a total production capacity of 30 million square meters annually, according to its website.
Dabur's Burnams takes charge of Eveready, read more.
The earliest record of OBL is for March 2007 when it opened at Rs 63 per share. The stock showed some growth but declined soon after as it touched a lifetime low of Rs 13 per share in October 2008.
However, after that, the stock reversed as it started moving upwards. A year later, in October 2009, the stock closed at Rs 47 per share, growing 260% in a year. In the same month next year, the stock reported growth of another 100% as it reached Rs 94.30 per share.
In October 2010, the stock breached Rs 100 per share briefly but fell down from there. By 2013, the stock had large price movements as it touched a low of Rs 39.15 per share. After this, the stock reported continuous consistent growth.
It broke through the Rs 100 mark in October 2014, but this time it sustained its growth and momentum as it breached Rs 200 seven months later. Investors jumped on once again as the growth looked promising.
But the company's stock corrected once again as it declined again. Its sharp decline ended in May 2020 when it closed at Rs 53.15 per share. Today the stock closed at Rs 742.95 per share, up 7.2%, and hit its lifetime high of Rs 779 per share.
At today's close of Rs 742.95, the stock registered a massive gain of 1,297.84% in two years!! If an investor invested Rs 1 lakh in the stock in May 2020, the investment would've turned to Rs 13.98 lakhs today!
Article by Aman Agarwal.
This news piece is brought to you in association with jobaaj.com
