Multibagger Stock: On January 1, 1999, one share of City Union Bank was worth just Rs. 1.02, while currently the share is Rs. is at the level of 121. On this account, this banking stock has returned 11,821 percent to investors in the last 22 years.
Even though the stock market is a volatile business and can be considered risky. But here too there are many such stocks which have worked to turn around the fortunes of their investors and take them ahead by giving them quick returns. A similar miracle has been performed by a banking stock, which rose to Rs. 1 to Rs. 121 and made its investors millionaires. We are talking about City Union Bank Stock (City Union Bank Stock) which has worked to deliver bumper returns to long-term investors.
- One share of City Union Bank is priced from Rs.1 to Rs. reached 121
- Over the last 22 years, this banking stock has returned 11,821 percent to investors
- City Union Bank stock made investors millionaires
Became a millionaire with an investment of 1 lakh
City Union Bank stocks may have been facing decline for some time now but they have proved to be multibagger stocks in terms of long-term investment. This banking stock has given investors Rs. 1 to Rs. 11,821 percent returns during the journey up to 121. On January 1, 1999, one share of City Union Bank was priced at just Rs 1.02. Investors who would have invested one lakh rupees in it at that time would have become millionaires now. The stock has a 52 week high of Rs 205, while a 52 week low of Rs 119.50.
City Union Bank Market Performance
If we look at the performance of this company, it has emerged as the key to unlock fortune for those who believe in long-term investment. While the stock price was around Rs 1 in early 1999, by January 2009 the stock may have moved slowly to reach the Rs 8 level. But after a year i.e. in January 2010, its price increased by Rs 10 to Rs 18. After this the boom phase that started in it lasted for a long time.
After 2015, rocket speed picked up
At the beginning of 2015, its price reached the level of Rs.78. After just three years, on 5 January 2018, it reached the level of Rs.160. This rocket-like growth in City Union Bank stock did not stop here and it touched Rs 195 on January 4, 2019, the very next year. On January 24, 2020, this share was priced at Rs. reached an all-time high of 237. However, this was followed by an ups and downs period in the last two years. It has given a negative return of 31 percent in the last one year.
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Brokerage opinion about this stock
Shares of this Tamil Nadu-headquartered bank may have weakened slightly over the past one year, but it has proved to be a lucrative deal for investors looking for multibagger returns in long-term investments. Talking about City Union Bank's earnings in June 2023, it has been better than expected. However, the bank's loan growth declined and gross NPAs increased. If we talk about the brokerage houses, they have Rs. It has set a target price of 160 and maintained its buy rating.
(Consult your market experts before making any investment in the stock market.)