In a shocking event, on Tuesday, the price of the shares of Elcid Investments Ltd company has reached Rs 2,36,250 which created a wave of excitement among the investors. Unprecedented surge Elcid Investments Ltd. share price rose from Rs. 3.53 to Rs. 2, 36, 250 in a day, registering a massive 66, 92, 535% increase in its value. With this surge, it has even surpassed India's most expensive stock MRF (priced at Rs. 1, 22, 643).
Shares of Elcid Investments Ltd. were re-listed on the Bombay Stock Exchange (BSE) on October 29. Its listing price was Rs 2, 25, 000, and during trading it rose 5 percent to Rs 2, 36, 250. In July this year, this stock was a penny stock of only Rs 3. 21 and its trading was stopped since then. Thus, an investment of Rs 1 lakh became Rs 670 crore overnight. Re-listing after delisting as per the BSE circular dated October 21, select investment holding companies (IHCs) were re-listed, including Elcid Investments. Earlier, the promoters of the company had voluntarily offered to delist it at a price of Rs 1, 61, 023 per share.
Financial position of the company in the quarter of June 2024, the net profit of the company was Rs 135.95 crore, which was Rs 97.41 crore in June 2023. Company's Financial Status in the June 2024 quarter, the company's net profit stood at Rs 135.95 crore, up 39.57% from Rs 97. 41 crores in June 2023. Net sales during the period stood at Rs 177.53 crore, up 38. 28% over the previous year. Elcid Investments, which is registered as an NBFC with the RBI, currently has no operational business but has significant investments in large companies such as Asian Paints.
The company holds 2, 83, 13, 860 equity shares or 2.95% stake in Asian Paints, which is valued at around Rs 8, 500 crores. This miraculous surge has once again reminded investors that there is no dearth of opportunities in the stock market, one just has to wait for the right time.