Multibagger Stocks: Cochin Minerals and Rutile Shares Weaken by Nearly 2.5% This Week
Cochin Minerals and Rutile, a renowned company that specializes in producing synthetic rutile, experienced a dip in its share values by almost 2.5% this week. Although the company reached its record high last month, it has slipped by approximately 25% since then. However, in the long term, the company has made investors millionaires. The company’s shares closed at INR 304.20 on Friday with a decline of 1.23% on the BSE. The company’s full market capitalization is INR 238.19 crore.
Cochin Minerals Creates Millionaires in 22 Years
Cochin Minerals’ shares were trading at just INR 2.80 on March 30, 2001. Today, the company’s shares are trading at INR 304.20 per share, which is 10,764% higher than its 2001 value. Thus, an investment of INR 1 lakh in the company’s shares would have turned into INR 1.08 crore in 22 years. The company has not only provided bumper returns in the long term, but it has also proven to be an excellent investment option in a short period.
Company Details
Cochin Minerals and Rutile Limited (CMRL) is one of the leading global companies that produces high-quality synthetic rutile. This titanium oxide is used in various products such as glass, porcelain, ceramics, and others. The company’s website states that it is the largest producer of ferrous chloride in the country, which is used to purify water. The company’s plant is located nearly 15 km away from the Cochin port and is situated in the Adyar Industrial Development Area.
Financial Health
The company’s net profit for the quarter ended March 2023 decreased by 23% to INR 13 crore from INR 16.81 crore in the same period last year.
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Conclusion
Despite the recent dip in the share values of Cochin Minerals and Rutile, the company has proven to be an excellent investment option in the long term. The company’s focus on producing high-quality synthetic rutile and its status as the country’s largest ferrous chloride producer for water purification make it a promising investment option.
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