A once penny stock, this company’s shares have transitioned to multi-bagger status, turning its investors into millionaires. What began at a mere price of 30 INR per share, is now valued at over 25,000 INR. However, the company is now under scrutiny for what is being touted as the biggest tax evasion case in Indian history.
Shree Cement: A Journey from Obscurity to Stardom
- Shree Cement shares have taken its investors from a modest investment of just 30 INR to becoming millionaires.
- Starting at just ₹30 per share, the price climbed to a remarkable ₹30821, although the current price stands at ₹25159.
- Those who invested merely ₹30 in this share now see their investment valued at ₹25000. Simultaneously, those who invested ₹300000 would see their value today exceeding 2.5 crores.
Consistent Dividend Payouts
- Not just appreciating in share price, Shree Cement has also been consistent in giving out dividends to its shareholders.
- The company has regularly shared an average of 0.4% profit per annum with its investors in the form of dividends.
The Tax Evasion Scandal
- Shree Cement, a company established in West Bengal in 1979 with its headquarters in Kolkata, has now come under scrutiny for an alleged tax evasion case.
- According to reports from GulfHindi.com, this case revolves around a deduction claim of a whopping 23000 crores INR, making it the largest tax evasion case in Indian history.
- This news could potentially impact the company’s share price. By the market’s closing time on Friday, a 1.94% drop was recorded in the share price.
The Fall and Rise
- In the past five days, the company’s shares have seen a decline of 4.48%. Despite this, over the last six months, the company has returned a profit of 5.4%.
- Moreover, it has given a return of 31.72% on investment to its shareholders in the past year.
Recent Update
Following the tax evasion news, Shree Cement shares have seen a significant fall, with an 8% drop in share price recorded today.
