The price of Mitchell Starc in the IPL made many people tear up. Kolkata Knight Riders bought the Australian left-handed pacer for 24 crore 75 lakh rupees.
What would you say if you see the profit figures of India’s batting legend Sachin Tendulkar in the stock market? The comparison is coming as the IPL auction was held a few days ago, and it shows that Tendulkar’s profit in just one share in 9 months is more than Starc’s price in the IPL auction!
Indian press DNA India informs that the name of the company in which Tendulkar is getting this profit is Azad Engineering. Tendulkar invested Rs 5 crore in the Hyderabad-based firm last March, which supplies goods to ‘basic equipment manufacturers’ in the defence, aerospace, oil and gas industries.
In between the company announced bonus. The shares became ‘diluted’ and Tendulkar’s shares stood at 4 lakh 38 thousand 210. The average price of each share stands at Rs.114.10. The decision to hold on to the investment has now increased Tendulkar’s net worth a lot.
Azad Engineering recently issued an IPO, the issue price of each share was 524 rupees! This company was listed in the stock market of India yesterday. Yesterday it was worth 720 rupees! In other words, Tendulkar gained about 7 times the investment in 9 months!
The value of his investment of Rs 5 crore was Rs 31.5 crore till yesterday. Profit 26 and a half crores. Not only Tendulkar, another legendary Indian batsman VVS Laxman, two badminton stars Saina Newal and PV Sindhu also benefited from this share. However, they could not make as much profit as Tendulkar. All three invested Rs 1 crore, but the share price rose to Rs 228.17 at the time of their investment. Their investment of 1 crore now stands at 3 crore 15 lakh rupees.