The stock that turned Rs 10,000 to Rs 4.5 lakh in 20 years

Imagine turning Rs 10,000 into Rs 4.5 lakh. Sounds like the premise of a Ponzi scheme. Yet, this transformation is a reality for investors who placed their faith in JSW Steel 20 years ago. Over the past two decades, the value of this steel manufacturer has compounded 21 per cent annually. This two-decade-long multibagger story is too intriguing to ignore. Let's take a closer look at how it unfolded. The early years Our story begins modestly in 1994, when Jindal Vijayanagar Steel initiated operations with a lone plant in Vijayanagar, Karnataka. The entity that we recognise today as JSW Steel emerged 11 years later, following the merger of Jindal Vijayanagar Steel with Jindal Iron and Steel. During these formative years, the company expanded its presence by establishing more plants. But, the earliest omens of what was to come can be traced back to the mid-2000s. A true trailblazer Steel is a commodity, and in most commodity industries, superior production capacity is a prerequisite for growth. Thus, akin to several in the steel industry, JSW Steel's ascent can be