URL copied to clipboard

Trending News

Elcid Investments Becomes India’s Priciest Stock with Unprecedented 66,92,535% Surge, Click to Know How

Elcid Investments, a smallcap NBFC, saw its stock skyrocket from Rs 3.53 to Rs 2,36,250 per share, recording a 66,92,535% surge and surpassing MRF as India’s highest-priced stock.
Elcid Investments Becomes India’s Priciest Stock with Unprecedented 66,92,535% Surge, Click to Know How

Imagine logging into your trading app to find a long-forgotten stock soaring to extraordinary heights. This real-life story is about Elcid Investments, a smallcap NBFC whose stock skyrocketed from Rs 3.53 to an astounding Rs 2,36,250 per share, outshining seasoned stocks and stunning investors. This surge has pushed Elcid past MRF, making it India’s highest-priced stock.

Alice Blue Image

Also Read: RBI on Dhanteras: Apex Bank Repatriates 102 Tonnes of Gold from UK to Strengthen Domestic Reserves; Check Details

Until now, Elcid Investments was little-known, trading just once in 2024, with 500 shares sold at Rs 3.53 on June 21. This week, however, 241 shares exchanged hands at the newfound high, marking an unprecedented 66,92,535% rise.

Based in Mumbai, Elcid holds strong ties to Asian Paints, with Asian Paints’ promoters owning 75% of the company. Elcid’s market cap stands at Rs 4,725 crore, 80% of which is linked to its 1.28% stake in Asian Paints, valued at around Rs 3,600 crore. Despite its high value, it has been trading at a low price-to-book multiple.

Also Read: Prime Minister Modi to Inaugurate ₹284 Crore Projects in Gujarat During Statue of Unity Visit; Get More on This

Elcid’s long-term low share price stemmed from limited trading volumes, as most shareholders held onto shares, given the stock’s book value of Rs 5,85,225.

Alice Blue Image

The historic price rise followed Sebi’s special price discovery session for undervalued holding companies, facilitating fair value revelation, which propelled Elcid to record-breaking gains.

Loading
Read More News
Swiggy IPO 6 नवंबर को $11.3 बिलियन के घटे मूल्यांकन और GMP में 30% गिरावट के साथ लॉन्च होगा; विवरण अंदर देखें।

Swiggy IPO 6 नवंबर को $11.3 बिलियन के घटे मूल्यांकन और GMP में 30% गिरावट के साथ लॉन्च होगा; विवरण अंदर देखें।

Swiggy IPO 6 नवंबर को लॉन्च होगा, जिसमें बोली 8 नवंबर तक जारी रहेगी। कंपनी का मूल्यांकन घटकर $11.3 बिलियन