Brief by Shorts91 Newsdesk / 05:46am on 30 Oct 2024,Wednesday Business
Elcid Investments Ltd has surged to become India's most expensive stock, with a staggering 7,00,000% return in a day. Its share price skyrocketed from ₹3.21 to ₹2,36,250, surpassing MRF Ltd's ₹1,22,576.50. Elcid's relisting on the Bombay Stock Exchange (BSE) on October 29, 2024, followed a failed voluntary delisting attempt. The company's 2.95% stake in Asian Paints Ltd, valued at ₹8,500 crore, drives its high valuation. Despite trading at a 45% discount to its intrinsic value (₹4.25 lakh), Elcid's market capitalization now stands at ₹4,725 crore.
