Elcid Investments Share Price: Smallcap stock Elcid Investments surges over 6.7 million percent in a single day, becomes India’s highest-priced stock – Know More

Elcid Investments, a little-known smallcap stock, has set a new record on Dalal Street by achieving an unprecedented single-day surge. The stock price rocketed from a mere ₹3.53 to ₹2,36,250, marking a staggering 66,92,535% increase. With this, Elcid has overtaken MRF to become India’s most highly-priced stock, surpassing MRF’s ₹1.2 lakh per share.

This dramatic price increase, however, is not due to investor frenzy. It resulted from a special call auction session initiated by BSE and NSE for price discovery in investment holding companies. The auction was part of SEBI’s efforts to align the market price of such companies with their book values, particularly for companies trading at significant discounts.

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Elcid had been listed at a mere ₹3 per share since 2011, despite its impressive book value of ₹5,85,225 per share. The substantial difference between the share price and its book value discouraged trades, with the last activity dating back over a decade. This gap motivated SEBI to direct exchanges to conduct an auction to determine a fair value for companies like Elcid with low liquidity and significant discounts to their book values.

Elcid Investments holds a 1.28% stake in Asian Paints, valued at approximately ₹3,616 crore, representing around 80% of Elcid’s total market capitalization. Despite its new high price, Elcid still trades at a price-to-book ratio of just 0.38, highlighting a disconnect between its market price and intrinsic value.

With a market capitalization of ₹4,725 crore, Elcid has now etched its place in history as India’s highest-priced stock, previously a title held only by MRF.