Elcid Investments Ltd has, in the recent past, captured the gong limelight on Dalal Street with an unheard-of multifold increase of its stock price from an insignificant sum of ₹3.21 to an astounding ₹2,36,250 a share, leaving it as the most expensive scrip in the country. A meteoric rise like the Elcid Investment share has underlined the big market position commanded by Asian Paints Ltd, whose shares it enjoys a significant holding.
Starting as a penny stock in July 2024 at just ₹3.21, the Elcid Investment share rose exponentially to achieve its fair value of ₹2,25,000. However, the stock went up 5% by 30 October 30 October and ended at ₹2,36,250. Such a dramatic hike places Elcid Investments’ share price above many notable stocks, such as MRF Ltd., which stood at ₹1,22,576.50 at close on the same day. A unique story in the Indian stock market is illustrated by Elcid’s meteoric rise, which raises a new benchmark among Indian equities.
Main drivers behind Elcid investment share price growth
A significant shareholder in Asian Paints Ltd with a holding of about 2.95% – nearly ₹8,500 crore in value. This strategic holding has added significant value to Elcid’s valuation, and investors are keen to own this stock. Hence, the market capitalization for this group stands at approximately ₹4,725 crore. The holding adds to its intrinsic value and proves investors’ confidence in Asian Paints’ trajectory, which is expected to remain firm.
Relisting with the Price Discovery Mechanism
Elcid Investments will list on the Bombay Stock Exchange (BSE) effective 29 October 2024 after following a unique call auction mechanism for a proper listing price. Before its listing, Elcid promoters had initiated delisting with a base price of ₹1,61,023 per share; however, the delisting offer could not fructify in the wake of scant public shareholder support. With this, the relisting exercise has added to the interest generated among the investors and analysts for its Elcid Investment share price NSE shares.
Elcid Investments vs Other Premium Stocks
MRF Ltd. shares used to be considered one of India’s crème de la crème stocks with high values. But the history of the share price of Elcid Investment has outplayed that of this index. A paltry amount of 0.39% sheds MRF at ₹1,22,576.50, whereas Elcid is leaping ahead, and the trend is just in disregard, as a formidable stance in the top lines in India’s costliest equity.
Future Prospects and Analysts’ Views
Elcid Investments stands out through its unique value proposition that has been strongly supported by holding by the company in high-performance companies. It is an up-and-coming source of income for a company called NBFC, and it primarily earns through the dividends declared on its investment. The net profits it registered in the June 2024 quarter stood at ₹135.95 crore or 39.57 per cent year on year. Through this quarter, it saw significant dividend income from investments valued at above ₹11,000 crores.
Role of SEBI in Price Discovery for Investment Companies
On a fair price discovery count, Elcid’s fantastic growth is also congruent with recent rules from the Securities and Exchange Board of India (SEBI). In June 2024, SEBI, in a circular, brought new standards for price discovery of the Investment Companies (ICs) and Investment Holding Companies (IHCs), paving the way for special call auctions without bands on price. This was believed to increase price transparency and investors’ interest, so it helped push Elcid to its current price at a debut level of 29 October 29 October for ₹2,25,000. Although at that high price, Elcid’s stocks are highly underpriced compared to the estimated book value.
A Record-Breaking Performance for Elcid Investment Share
The elcid investment share price chart is one of the most dramatic surges seen on Dalal Street. A stock transforming from Rs 3.53 to Rs 2,36,250 within months says a lot about volatility and potential in India’s equity market, especially for investment holding companies. Now, with a large holding amount and strategic positioning, high-value opportunities like Elcid Investments continue to attract attention.
FAQ:
How to buy Elcid Investments shares?
You can buy Elcid investment shares by opening a Demat account with Angel One.
What is the share code of Elcid?
The share code of Elcid is Elcid Investments Ltd Live Stock Price, Elcidin Live Share Price, 503681 | BSE.
What is the company profile of Elcid?
Elcid Investments is a registered non-banking financial company with RBI.
