From Rs 3 To Rs 2,36,000: Smallcap Stock Tops MRF To Become India’s Costliest Share In A Day

Last Updated: October 30, 2024, 12:59 IST

Elcid Investments on October 29 surpassed MRF to come to be India’s most pricey supply

If you think MRF Ltd is the highest-priced shares in the Indian securities market, after that one have to be confirmed incorrect. The Rs 1.2 lakh tire manufacturer’s supply is towered over by a microcap gamer with almost dual its cost sinceTuesday Interestingly, this supply was simply a cent supply well worth Rs 3.21 in July this year.

Elcid Investments on October 29 surpassed MRF to come to be India’s most pricey supply. Thanks to BSE public auction for cost exploration of holding business, each share of Elcid was valued at Rs 2.25 lakh.

The smallcap supply developed background on Dalal Street as its share cost rose from Rs 3.53 to an astonishing Rs 2,36,250 in eventually, a dive of a mind-blowing 66,92,535%. Meanwhile, on October 29, MRF shares on BSE shut 0.61% reduced at Rs 1.22 lakh each.

The highest possible traded worth of Elcid was Rs 4.58 lakh, however cost uncovered went to Rs 2.25 lakh.

BSE had actually carried out public auction on October 28 for cost exploration of holding business.

Rs 1 lakh financial investment in this supply would certainly have produced go back to the song of a monstrous Rs 670 crore in the period of a couple of months.

A BSE round, outdated October 21, pointed out that relisting of choose financial investment holding business (IHCs) with an unique telephone call public auction system for a rate exploration onMonday The efficient prices were picked Tuesday, October 29 after the unique arrangement.

Elcid Investments was amongst among them. Other business consisted of names like Nalwa Sons Investments, TVS Holdings, Kalyani Investment Company, SIL Investments, Maharashtra Scooters, GFL, Haryana Capfin and Pilani Investment and Industries Corporation.

The marketers of Elcid Investments willingly made a deal for its delisting for a base cost of Rs 1,61,023 per share. An unique resolution was recommended for the very same. However, the resolution fell short because of non-receipt of requisite bulk of public investors.

Elcid Investments, with 2,00,000 share resources, holds 2,83,13,860 equity shares or 2.95 percent risk in Asian Paints Ltd, which deserves almost Rs 8,500 crore since its previous close. This is the only factor that makes this supply so highly valued at the securities market. There is still a catch.

Hitesh Dharawat of Mumbai- based Dharawat Securities claimed that Elcid Investment has actually stayed a neologism on Dalal Street due its holding inAsian Paints The supply has actually zoomed directly to Rs 2.35 lakh from Rs 3-4 a day back. However, guide worth still continues to be more than the present supply cost, however it regulates the holding business price cut.

Despite trading at Rs 2.36 lakh per share, the supply is still trading at almost 45 percent price cut to its inherent share cost worth of Rs 4.25 lakh per share, based upon its holding in theAsian Paints Before Tuesday’s 190 share profession well worth Rs 4.33 crore, the supply has actually hardly seen any kind of exchange of hands in the last couple of years.

Kranthi Bathini, Director of Equity Strategy at WealthMills Securities claimed that such business have organization of holding supplies of various other business which guide the supply costs for financiers. Putting cash in such business is totally based upon people’ threat cravings however one must keep in mind that these business might have liquidity threats.

“Investors should look at cash flows and the nature of the business of a company before investing. If it suits their risk profile, then only it makes sense to put in their money. Such companies may carry some value but investors should know a way to exit such counters to ensure liquidity for them,” he warned.