How to become a crorepati: You could have been one, if you had invested here
How to become a crorepati: One of the most common questions that is being asked by investors is this. Ultimately, while career will give you a certain amount, the same money can be saved and then leveraged through investment to fatten up their bank account considerably.
How to become a crorepati: This question is asked very frequently by investors and the same applies to stock market investors too. Market experts, a majority of the times, tell retail investors to invest in cash and that too for the long-term - means 15 years or above. They also advise investors to invest in bulk, which means a lump sum amount should be invested in the stock market but in limited shares who have strong fundamentals. Having said that, investors, who do not want to take risks at all should invest via SIPs. The lumpsum investment route has risk attached.
One such stock where a lumpsum investment would have answered this question - how to become a crorepati - is HDFC Bank. In the year 2001, when the Indian markets were opening up post-liberalisation and global players were coming to cash-in on the Indian markets and privatisation was taking place at a faster rate, investors had started to look at private bank shares instead of PSU banks to get big profits.
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HDFC Bank share price movement from 9th October 2001 to 10th October 2019 has been awesome, indeed! HDFC Bank share has jumped from Rs 21.40 to Rs 1200 per stock levels in this period. Som if someone had invested in this stock on 9th October 2001 then a Re 1 investment would have become Rs 56.07. Yes! Leave out the dividends that the private sector bank has announced in this period for its shareholders. It also means, if someone had invested Rs 2 lakh at that time in the HDFC Bank counter, he or she would have become a crorepati! HDFC Bank investment itself would have become worth Rs 1.12 crore.
Speaking on the HDFC Bank share price Rakesh Bansal, Vice President at RK Global said, "Private bank stocks have always been a preferred choice among the FIIs and if we talk about the major private banks that have attracted the majority of their investments HDFC Bank is one of them. For the stock market investors, even today, HDFC Bank and Kotak Mahindra Bank are my preferred banking shares."
So, as far as those people are concerned, who are still asking how to become a crorepati, then they can look at HDFC Bank, as per the expert.
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