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This stock of Mukesh Ambani has seen huge growth, price has jumped more than 500% this year
The deal, completed on May 24, 2023, has significantly boosted investor confidence, driving the company's market capitalization to Rs 2380 crore
Updated : Aug 15, 2024, 07:01 PM IST
 "Lotus Chocolate Company, a subsidiary of Mukesh Ambani's Reliance Consumer Products Limited")
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The financial world is buzzing with a stock that's defying all expectations—Lotus Chocolate Company, a subsidiary of Mukesh Ambani's Reliance Consumer Products Limited. As of August 14, 2024, the company’s shares have skyrocketed by a staggering 510% this year alone, leaving investors and analysts alike in awe. What’s driving this unprecedented surge, and how far can it go?
At the start of 2024, Lotus Chocolate shares were trading at a modest Rs 303.50. Fast forward to today, and those same shares have leaped to Rs 1854, marking a 431% increase in just six months. Over the last five days alone, the stock has seen a 21% rise, hitting its 52-week high with an upper circuit of 5% on Wednesday. Investors who bought into Lotus Chocolate two years ago are seeing returns of over 1300%, with shares jumping from Rs 131.05 in August 2022 to Rs 1854 now.
Much of this explosive growth can be attributed to Mukesh Ambani's strategic acquisition of Lotus Chocolate through Reliance Retail Ventures Limited (RRVL). The deal, completed on May 24, 2023, has significantly boosted investor confidence, driving the company's market capitalization to Rs 2380 crore. The rise of Lotus Chocolate's shares is a testament to Ambani's vision in diversifying Reliance's portfolio and tapping into the lucrative FMCG sector.
With such rapid gains, questions are being raised about the sustainability of this rally. The stock’s 52-week low was just Rs 213, making the current price seem almost surreal. But as Lotus Chocolate continues to innovate in the chocolate and cocoa products market, backed by the vast resources of Reliance Industries, the company’s future seems as sweet as its products.
