This stock gave 131% returns in just 13 days
FD need approx. 13 years to give you such a return!
Stock markets are interesting. They flaunt rags-to-riches and riches-to-rags stories every single day. And so when you have all the negative news of North Korea, Trump, China, Pakistan, Fake News, Tsunamis, Floods to demotivate you to run away from the game and stay safe, there are some promising stories which come and just make you take that extra fund and stay invested.
And usually, these Bahubali stocks are little known dark horses. You may have never heard of them or ironically heard all bad about them. So when our Indian stock market investors were still deciding whether to stay in these turbulent times or just pack the bag for a vacation, this stock started to take off. And it reached the skies in no time.
The stock in the picture is Future Markets Networks Limited. This company is working under the umbrella of the all famous Future group but many people have not known it till now. Usually, the stock of Future consumers, from the same group, is talked about. Future consumer is also famous because of its closeness with one of the most prominent Indian value investor Porinju Veliyeth. Porinju has openly recommended Future Consumers multiple times.
Future Markets Networks Limited is working on some of the most ambitious projects and poised to be a long term bet. But the kind of returns it just gave to the investors must have tempted many to book profit.
Future Markets Networks Limited was trading at 71.15 on Friday 18th August. It went to 164.40 on Monday 4th September. It was just a matter of 13 trading days (Markets are closed on weekends and there was a holiday on 25th Aug due to Ganesh Chaturthi). A screengrab from BSEIndia.com below shows how it moved during this period.
Considering Fixed Deposit gives a 6.65% compounded returns (the rates are falling every year), it will take 13 years to get this returns.
Hope I had bought some of it during this period. Happy Investing 🙂