BAJAJ BROKING

Notification
No new Notification messages
Mamata Machinery IPO is Open!
Apply for the Mamata Machinery IPO through UPI in just minutes.
Open a Free Demat Account
Pay ZERO maintenance charges for the first year, get free stock picks daily, and more.
Trade Now, Pay Later with up to 4x
Never miss a good trading opportunity due to low funds with our MTF feature.
Track Market Movers Instantly
Stay updated with real-time data. Get insights at your fingertips.

Elcid Investments stock price skyrocketed over 66,92,535% in a single day, reaching ₹2,36,250

Listen to our Podcast: Grow your wealth and keep it secure.

0:00 / 0:00

Synopsis:

Elcid Investments' share price surged to ₹2,36,250, breaking records and surpassing MRF as India's most expensive stock. With a book value estimated at ₹5.84 lakh, the small-cap stock holds potential for further gains, supported by solid fundamentals.

Elcid Investments created a record on Dalal Street as its stock price soared from ₹3.53 to ₹2,36,250 in a single day, marking an extraordinary 66,92,535% increase. This price surge follows BSE’s recent auction aimed at improving price discovery for holding companies. By the end of the session, Elcid Investments overtook MRF Ltd to become India’s highest-priced stock, with the auction settling at ₹2.25 lakh per share.

Despite this meteoric rise, Elcid Investments may still be undervalued. Its book value stands at an estimated ₹5.84 lakh per share, according to Screener, suggesting further potential for appreciation. While the company has no direct operational business, its primary earnings stem from its robust investment portfolio, which includes stakes in leading firms like Asian Paints. Currently, Elcid holds investments exceeding ₹11,000 crore, while its market capitalization remains around ₹4,725 crore.

In June 2024, the company reported net sales of ₹177.53 crore, up by 38.28% year-over-year, with a net profit increase of 39.57% to ₹135.95 crore. To address undervaluation issues in investment companies, SEBI introduced a special call auction framework without price bands, targeting fair price discovery and boosting investor interest in such stocks. This regulatory step could enhance liquidity and further support Elcid Investments’ valuation.

Source: Moneycontrol, Economic Times 

Share this article: 

Read More Blogs

Our Secure Trading Platforms

Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading

Bajaj Broking App Download

8 Lacs+ Users

icon-with-text

4.4+ App Rating

icon-with-text

4 Languages

icon-with-text

₹4700+ Cr MTF Book

icon-with-text