After launching as a penny stock at ₹3.21, Elcid Investments Ltd. reached ₹2,25,000 in actual value and increased by an additional five percent to close at ₹2,36,250.
As of July 2024, Elcid Investments Ltd. was a penny stock with a market value of ₹3.21. However, based to a Business Today report, its shares had previously surpassed ₹2,25,000 in fair value and increased by an additional 5% before closing at ₹2,36,250. This means that the price per shares is now higher than even that of MRF Ltd.
After the trading session concluded on Tuesday, October 30, 2024, MRF shares, which are among the most valuable in the Indian stock market, finished at ₹1,22,576.50 on the stock exchange of Bombay (BSE). The decline was 0.39%, or ₹478.55.
What caused the share price of Elcid Investments to soar?
Following the company’s relisting on the BSE on Tuesday, October 29, 2024, the stock price surged. It currently has a market valuation of ₹4,725 crore.
Several companies observed a relisting, including Elcid Investments, TVS Holdings, Nalwa Sons Investments, Kalyani Investment the business, SIL Investments, Maharashtra Scooters, GFL, Haryana Capfin, and Pilani Investments and Industries Corporation.
A BSE circular dated October 21, 2024, announced the relisting using a special call auctions mechanism for the price discovery on Monday and the rate resolution on Tuesday.
This followed a voluntary offer by the company’s promoters to delist it at a base cost of ₹1,61,023 per share. But the report states that this did not occur because the necessary majority among common shareholders were not received.
Elcid Investments’ holding of 2,83,13,860 equity shares, or a 2.95% interest in Asian Paints Ltd., which is valued at about ₹8,500 crore, is another significant factor attributing to its high price.
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Is it a good idea to purchase Elcid shares?
With yields of almost 425% from FY20 to FY22, Elcid offered Rs 25 per shares in FY23 & Rs 15 in the three years prior. Due to Elcid’s ascent, MRF is no longer among the most expensive stock in India. Elcid’s valuation was Rs 4,961 crore on Wednesday, compared to Rs 51,850 crore for MRF.
Elcid Investments was purchased by whom:
According to data for the quarter that ended in September, the owners of Asian Paints own 75% of Elcid, with Hydra Trading (9.04%) and 3A Capital Service (3.34%) being additional significant shareholders.
How can I purchase Elcid:
Shares of Elcid Investments Ltd. are available for purchasing via a broking house. Orders for Elcid Investments Ltd. shares can be placed through ICICIdirect, a registered broker.
What is Elcid’s complete form:
A common aspect is the use of electromagnetic core flux leaking testing (ELCID or similar). A different module is used to measure the step irons.
How does the price of Elcid’s shares improve?
Accordingly, the business maintained that the rise in the share price and volumes behaviour of the script is entirely due to market factors and is driven by the market. One of the numerous “promoter” organisations of Asian Paints is Elcid Investments.
Why doesn’t Elcid Investment trade?
Elcid’s book value was an astounding Rs 5,85,225, even though the company has been trading at only Rs 3.5 per shares since 2011. According to SAMCO Securities, there has not been any trades since 2011 since current shareholders were afraid to sell due to this large discount.
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