The smallcap stock, Elcid Investments, has seen an unprecedented increase of 66,92,535% in a single trading session, making it the most expensive stock in India. This monumental rise, driven by a special call auction, has propelled the company to surpass MRF, the previous titleholder. With strong ties to Asian Paints and limited availability of shares, Elcid's high book value was a major factor in its surge. Market analysts are amazed by this development, citing the special call auction as a crucial mechanism in determining the true market value of a stock.
Elcid Investments: A Meteoric Rise to India's Most Expensive Stock
Background
Elcid Investments is a smallcap stock listed on the Bombay Stock Exchange (BSE). Prior to its recent surge, it hovered around a modest price range of 20-30 rupees per share. However, on July 12, 2023, Elcid's stock price witnessed an unprecedented increase of 66,92,535%. This astronomical surge propelled it to surpass MRF, the previous titleholder of the most expensive stock in India.
Special Call Auction
The surge was triggered by a special call auction conducted by the BSE. This auction is typically held for companies that have experienced significant price movements or are undergoing restructuring. In Elcid's case, the special call auction was held to determine a fair price for the stock, given its limited availability and high book value.
Key Factors Driving the Surge
Analysts' Reactions
Market analysts were stunned by Elcid's meteoric rise. They attributed the surge to a combination of factors, including the special call auction, the company's strong fundamentals, and investor sentiment. However, they also cautioned investors to exercise caution, as such extreme price movements can be volatile and unpredictable.
FAQs
1. Why did Elcid Investments' stock price increase so dramatically? A: The surge was primarily driven by a special call auction conducted by the BSE, which allowed investors to determine the true market value of the stock.
2. Is Elcid Investments a fundamentally sound company? A: While Elcid Investments has strong ties to Asian Paints and a high book value, it is essential to note that its financials and business prospects should be carefully reviewed before making any investment decisions.
3. Can Elcid Investments sustain its current price levels? A: It is difficult to predict the future performance of any stock, especially after such an extreme price movement. Investors should exercise caution and conduct thorough research before investing in Elcid Investments.
4. What is a special call auction? A: A special call auction is typically held for companies that have experienced significant price movements or are undergoing restructuring. It allows investors to determine a fair price for the stock based on supply and demand.
5. What are the risks associated with investing in Elcid Investments? A: As with any investment, there are risks involved in investing in Elcid Investments. Investors should be aware of the stock's volatility and consider their risk tolerance before making any investment decisions.
In a heartening initiative, Dharavi Social Mission, under the Dharavi Redevelopment Project Private Limited (DRPPL), has facilitated the sale of one million handcrafted diyas from Dharavi's Kumbharwada for this Diwali. The diyas will be used by Mumbai International Airport and the Adani Foundation in their festive season programmes, benefiting around 500 artisans and allied people. This initiative not only supports the local community and their traditions, but also showcases the love, skill and spirit behind each diya.
Trump Media & Technology Group, the parent company of former US President Donald Trump's social media platform Truth Social, has quadrupled its value to over $10 billion, surpassing that of Elon Musk's X Holdings. This increase in value is largely driven by Trump's improved chances of re-election, causing TMTG stock to surge. Despite being unprofitable and struggling to generate revenue, TMTG is now worth more than companies like Caesars Entertainment, Match Group, Walgreens Boots Alliance, and Hasbro. Meanwhile, Musk, a vocal supporter of Trump, has seen his company's value decline since taking over Twitter.
Elcid Investments made history as its stock price skyrocketed 67 lakh percent in a single day, surpassing MRF to become India's most valuable stock. The surge was a result of the BSE auction for price discovery of select investment holding companies, with Elcid Investments' shares valued at Rs 2.25 lakh apiece. This development comes in the wake of SEBI's proposal to enhance price discovery for investment holding companies, which may offer a boost to liquidity and investor interest.
The Institute of Chartered Accountants of India (ICAI) has announced the exam dates for the January 2025 CA Foundation and Intermediate exams. This year, the CA Intermediate exams saw women dominating the top ranks, with Mumbai's Parami Umesh Parekh leading the way with an impressive score of 80.67%. The progress of women in the accounting profession is evident, with the number of female ICAI members expected to reach 50% in the next five years. Along with the results, the ICAI has also declared the CA inter UNITS September 2024 result and the merit list, which can be accessed from various websites.
As the festive season begins, IRCTC's VIKALP scheme comes as a much-needed relief for train passengers struggling to get confirmed tickets. This initiative provides an alternative train option for passengers who are unable to get confirmed seats with their original booking. Although it doesn't guarantee a confirmed berth, VIKALP ensures no additional charges for the passenger and allows them to select up to seven alternate trains.
Swiggy, a popular food delivery platform in India, has officially announced the opening of its initial public offering (IPO) on November 6th. With a fixed price band of Rs 371-390 apiece, the company is looking to raise a total of Rs 11,327.42 crore through the IPO. This includes a fresh share sale of Rs 4,499 crore and an offer-for-sale of up to 17,50,87,863 equity shares by its existing selling shareholders. The IPO has already generated interest from prominent investors and will offer investment opportunities for both institutional and retail investors.
Trump's social media company, Truth Social, has climbed in value surpassing ally Elon Musk's company X, just one week after its launch. The parent company, Trump Media & Technology Group, is now valued at over $10 billion, four times higher than its value last month. While Trump has no active role in the company, he still owns the majority share and founded Truth Social after being banned from other social media platforms. The surge in company value has prompted trading to pause multiple times this week. Follow Misty Severi on X for more coverage of this development.
Elcid Investments, an investment company, witnessed a massive surge in its stock value on Tuesday, rising a staggering 6.7 million per cent and overtaking MRF as the highest-priced stock in India. The surge was a result of a special call auction held "with no price bands" for the stock, which had previously traded at a mere ₹3.5 per share. This sudden increase has resulted in the stock's price reaching a staggering ₹2,36,250 per share, despite having a book value of over ₹4 lakh per share. Investors are now keeping a close eye on the company's future developments.
Elcid Investments Ltd., a subsidiary of the ELCIDIN Group (XT), has seen a significant increase in profits over the past 15 days, according to data from Rediff.com. The company's success has earned them a coveted spot in RediffGurus' list of top performers in the market. With a current net worth of Rs. 000.00, it is clear that Elcid Investments Ltd. is a force to be reckoned with in the business world.