Image showing the JSW Steel share certificates.
Credit: X/@Dutta_Souravd
In a sudden change of fortunes (literally) a man stumbled upon shares of JSW Steel that his father had bought for a mere Rs 1 lakh in the 1990s, which are now valued at a whopping Rs 80 crore.
In a post on social media platform X, investor Sourav Dutta shared the story about the man's life-changing discovery, highlighting the power of long-term investing.
Understandably, the massive change in the value of the shares over the past three decades, and the man's luck in stumbling upon the share certificates caught the attention of many on social media, with users sharing their own views on long-term investing and congratulating the Reddit user who shared the story.
"Now, he can retire and live his life peacefully. Can even make a good business from it, a huge congratulations to him," wrote one user.
"People don't realise how stock splits, bonuses and dividends add up over time, it's magical," commented another.
JSW Steel, now, is a leading steel manufacturer in India, with a massive domestic market presence and a growing global footprint.
Founded in 1982, JSW steel currently has a share price of 1,006.45 at the time of writing this.