If you had invested ₹10,000 in Elcid Investments Ltd a year ago, you’d now be sitting on a fortune worth ₹70 crore! This lesser-known stock, which once traded as a penny stock, has skyrocketed, reaching an astonishing ₹2,36,250 per share, surpassing even MRF Ltd to become India’s most expensive stock.
How a Small Investment Turned into Crores
Elcid Investments Ltd was trading at just ₹3.37 a share at its 52-week low, according to data from the Bombay Stock Exchange (BSE). At that price, ₹10,000 would have bought 2,967 shares. Fast forward to today, and those shares are valued at a mind-blowing ₹70,09,53,750.
What Drove Elcid Investments’ Price to the Top?
The dramatic rise in Elcid’s stock price occurred after its relisting on the BSE on Tuesday, October 29, 2024. The company now boasts a market capitalization of ₹4,725 crore. One key factor in this valuation spike is Elcid’s substantial holding in Asian Paints Ltd, owning 2,83,13,860 equity shares—around 2.95% of the company—which is valued at approximately ₹8,500 crore.
This relisting was facilitated through a special call auction mechanism for price discovery, following a failed delisting attempt due to insufficient public shareholder participation, as per the BSE circular dated October 21, 2024.
Don’t Miss Out on the Next Big Opportunity While the meteoric rise of Elcid Investments may be hard to replicate, staying informed and spotting potential investments early on can unlock similar high returns. Keep following our market insights to stay ahead of the game.
