Shares of Elcid Investments are in constant discussion on Dalal Street these days. Elcid Investments has become the most expensive stock in the country. The company’s shares have created a new history by crossing the level of Rs 3 lakh on Wednesday, 6 November. Shares of Elcid Investments rose 5% during trading today to an intraday high of Rs 301521.40. This is also its new high price of 52 weeks. Let us tell you that for the last four trading days, this stock has been continuously hitting an upper circuit of 5%. Even today, only buyers are seen in this stock. In five days, this stock has climbed more than 21% i.e. Rs 53,458.90. On June 21 this year, this stock was worth just Rs 3.51.
Reasons for rise in shares
Let us tell you that last week on October 29, a special call auction was conducted by BSE regarding the price of the holding companies. In this auction session, the price of Alcid’s share was fixed at Rs 2.25 lakh. Shares of Alcid Investment Limited were re-listed on BSE i.e. Bombay Stock Exchange on Tuesday, 29 October. The listing price of the share was 2.25 lakh but the smallcap stock created history on Dalal Street and reached Rs 2,36,250. This was an astonishing jump of 66,92,535%. On June 21 this year, this stock was a penny stock of just Rs 3.51. Since then, trading of its shares was closed. After re-listing, this stock has been continuously hitting upper circuit for the last 4 days.
company business
Alcid Investments is a registered NBFC with RBI under the investment company category. The company currently has no operating business of its own but has significant investments in other large companies like Asian Paints etc. It has a market cap of Rs 6,030.43 crore.
