The stock of Elcid Investments, which had crossed Rs 3 lakh from Rs 3 in just 15 days, is now falling. The company’s share crashed in the market on Tuesday.
The share of Elcid Investments has fallen 5 percent to Rs 298252.25.
The company’s shares had also fallen by 5 percent on Monday. The shares of Elcid Investments have fallen by Rs 34147 in 2 days.
The company’s share had reached Rs 332,399.95 on November 8. The 52-week low for the shares of the company is Rs 3.53.
The Company’s Share Had Jumped 6692535% In A Day
The share of Elcid Investments has suddenly seen a stormy rise. The company’s share saw a tremendous jump of 6692535% in a day on 29 October 2024.
The company’s share rose from Rs 3.53 to Rs 2,36,250 in a single day.
The sharp increase in stocks from Elcid Investments came after a special auction of calls on the Bombay Stock Exchange (BSE).
After this tremendous rise, Elcid Investments became the most expensive stock in the country, leaving behind MRF.
Business Of Elcid Investments
Elcid Investments is a NBFC (non-banking financial company) that is registered in the Reserve Bank of India under the category of investment companies.
The company currently does not have any operational business of its own. But, it has invested in many other big companies like Asian Paints.
The primary source of income comes from dividends that it receives from holding firms. The company’s investments are more than Rs 11000 crore.
Elcid Investments has a 2.95 percent stake in Asian Paints, the value of this stake is more than Rs 8500 crore.
The equity base of Alcid Investments is only 200,000 shares, out of which 150,000 shares are held by the promoters.
The market cap of Alcid Investments reached Rs 5,965 crore on Tuesday.
Quick Fact
| Company name | Elcid Investments |
|---|---|
| Recent stock drop | 5% down to ₹298252.25 on Tuesday |
| Previous drop | 5% on Monday |
| 2-day decrease | ₹34147 |
| Peak price | ₹332399.95 on November 8 |
| Surge date | 29 October 2024 |
| Single-day rise | 6692535% |
| Surge reason | Special call auction |
| New high price | ₹236250 |
| Market cap | ₹ 5,965 crore on Tuesday |
| Business type | Non-banking finance (NBFC) |
| RBI status | Registered under investment category |
| Operations | No operational business |
| Main income | Dividends from holding companies |
| Total investments | ₹11000+ crore |
| Asian Paints stake | 2.95% |
| Stake value | ₹8500+ crore |
| Equity base | 200,000 shares |
| Promoter holding | 150,000 shares |
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