Grandfather bought 20 thousand MRF shares, now grandson is a millionaire - Newztezz Online


Thursday, January 18, 2024

Grandfather bought 20 thousand MRF shares, now grandson is a millionaire

Everyone wants to become rich without working hard. Or be born in a rich family or somehow we come to know that our ancestors have a storehouse full of wealth which will solve all the problems of our life. Same thing happened with a boy when he came to know that his grandfather had bought 20000 shares of MRF, whose total value today is in crores.

MRF is the most expensive stock in the stock market in the country today. In such a situation, if someone had invested even Rs 10,000 in shares 30 years ago, he would have become a millionaire today. A similar issue has once again become a topic of discussion after MRF reached its high. Where a person came to know that his grandfather had bought 20 thousand MRF shares in the year 1990. Whose value now is in billions. Let us tell you how many billions the grandson has become the owner of just through the shares of MRF.

It is noteworthy that the tire manufacturing company has once again created history. Recently the share price of MRF has made a new record. The share of MRF, the most expensive stock in the stock market, has reached its high of one year, when the price of one of its shares crossed Rs 1.5 lakh. However, after reaching 52 weeks high, the share also declined and it went to the level of Rs 1,35,356.45.

How did the matter come to light?

This three-four year old story is about a man whose life changed within 15 minutes when he came to know in a live show that he had become a millionaire. Actually, a few years ago a person named Ravi called a show of a business channel to get advice on some shares. He told that in 1990 his grandfather had bought 20,000 shares of MRF. Soon after purchasing it he went into a coma due to an unfortunate accident. Then he told that his grandfather is doing better now and he has gifted him a share certificate.

Now the price has become this much

After this Ravi told that he wants to sell these shares. But his luck changed when he came to know that the value of each of those shares is now in lakhs and the total value of his shares is more than Rs 270 crores. It was like discovering a hidden treasure and the joy of the family members knew no bounds.

What does MRF do?

MRF means Madras Rubber Factory. It is an Indian multinational company that produces a number of rubber products including tyres, threads, tubes and conveyor belts, paints and toys. MRF is the largest tire manufacturer in India and the fourteenth largest tire manufacturer in the world. Its headquarters is in Chennai, India.

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