Sachin Tendulkar backed business share rises sharply, his Rs 5 crore investment soars to Rs…

Sachin Tendulkar, the former cricketer known as the 'Master Blaster' of Team India's favourite stock, Azad Engineering Ltd, has skyrocketed from his initial Rs 5 crore investment to over Rs 70 crore. The legendary former cricketer of Team India has witnessed a phenomenal surge in his investment as the stock of Azad Engineering, a mid-cap company, soared to an all-time high of Rs 2080 on Thursday.

The stock value of Azad Engineering, which is well-known for producing precision-forged and machined components for international OEMs in a range of industries including energy, aerospace, defence, and oil and gas, has increased significantly. The company's shares showed tremendous momentum in spite of market turbulence; shortly after the market opened on Wednesday, each share reached Rs 1981.80, breaking through the 5% upper circuit limit. Investors in Azad Engineering have reaped substantial rewards from the sustained growth in the company's share price. 

Sachin Tendulkar's investment in Azad Engineering has proven to be highly lucrative. In March 2023, Tendulkar initially invested approximately Rs 5 crore in the company, and through a series of corporate actions, his holding expanded to 438,210 shares, with an average acquisition cost of Rs 114.1 per share. Despite the company's Rs 740-crore IPO, Tendulkar chose to retain his stake, and now, his initial investment of Rs 5 crore has grown 14.56 times, with the value soaring to over Rs 70 crore.