Elcid Investments: The Unlikely Multibagger

NewsAnchor · 2024-11-04T10:23:10.232578+05:30

- Elcid Investments' stock price soared by 67,00,000% from ₹3.53 to ₹2,36,250, making it the priciest stock in India. - This was due to SEBI's new 'special call auction' mechanism, designed to boost trading for underperforming stocks. - Elcid, an Investment Company, had 93% of its assets in stocks of other listed companies and a stock price significantly below its book value, making it eligible for the auction. - Despite the price surge, the stock is still undervalued by about 125% according to the book value method. - However, the company's low liquidity and the fact that most shares are owned by promoters make it difficult for retail investors to buy in and influence the stock's value. Source: [finshots](https://finshots.in/markets/is-elcid-investments-india-most-expensive-stock-worth-the-price-mrf-multibagger/)

Elcid Investments' stock price soared by 67,00,000% from ₹3.53 to ₹2,36,250, making it the priciest stock in India.
This was due to SEBI's new 'special call auction' mechanism, designed to boost trading for underperforming stocks.
Elcid, an Investment Company, had 93% of its assets in stocks of other listed companies and a stock price significantly below its book value, making it eligible for the auction.
Despite the price surge, the stock is still undervalued by about 125% according to the book value method.
However, the company's low liquidity and the fact that most shares are owned by promoters make it difficult for retail investors to buy in and influence the stock's value.

Source: finshots