Forgotten 420 ITC Shares Turned To Rs 6.5 Cr Fortune For This Woman
ITC's shares are likely to be in focus as the diversified conglomerate is expected to release its Q3 FY24 results on Monday.
here is a Bollywood-esque story revolving around the stock that investors can draw lessons from.
Usha Sharma (name changed) found herself the unwitting protagonist in a financial drama set around ITC shares worth crores of Rupees.
Back in the 1970s, Usha’s father bought 420 shares of ITC Ltd.
The dormancy was only on the surface, though. The magic of compounding was at work the entire time.
Over the years, corporate actions like bonuses and share splits transformed those stocks into a staggering 1,73,880 ITC shares worth over Rs 6.5 crores in 2017
Share Samadhan made calls and wrote letters and emails to ITC on behalf of Usha Sharma.
And then, around 5 months later, success! ITC finally transferred a total of 1,73,880 equity shares
It was a victory that was sweet, not just in monetary terms, but in the sense of the new life it would usher a simple rural retail investor's family.