Mukesh Ambani is the richest man in Asia with a whopping real-time net worth of USD 120.3 billion, as per Forbes. He is the chairman of Reliance Industries which has a market cap of Rs 2105000 crore. The Reliance Group has several subsidiaries which are present in many sectors and are growing exponentially. The share price of one such company owned by Reliance Consumer Products is Lotus Chocolate.
The shares of the company have been hitting an upper circuit for the last two trading sessions. Every day, it is witnessing a jump of about 5 per cent. Due to the continuous jump, it has reached its all-time high level at Rs 772.50. But why has the share price surged?
The surge in the shares of Lotus Chocolate has come after its quarterly results. The company has reported a huge jump in its Q1 profit after tax (PAT). It reported a net profit of Rs 9.41 crore for the first quarter ended June 2024, while it was around Rs 20 lakh in the same quarter last year. At the same time, the revenue has increased from Rs 32.21 crore to Rs 141.31 crore.
This stock has given a return of 5000 per cent on every share. If someone had invested even Rs 1 lakh in it five years ago, he would have got Rs 51 lakh today. On 19 July 2019, this stock was at a price of just Rs 15, which has now reached Rs 772.50. Its lowest level of 52 weeks is Rs 213.
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