Elcid Investments Ltd. Company History and Annual Growth Details..
દિવાળીમાં બબ્બે બખ્ખા!
• એલ્સિડ ઈન્વેસ્ટમેન્ટ લિમિટેડ(Elcid Investments Limited)ના શેરધારકોને લાગી લોટરી
• જુલાઈમાં જે શેર માત્ર 3.21 રૂપિયાનો હતો તે રિલિસ્ટિંગ થતા રૂપિયાના 2.36 લાખના સ્તરે પહોંચ્યો૨૪ કલાક.
• શેરની લિસ્ટિંગ કિંમત 2,25,000 રૂપિયા હતી જે ટ્રેડિંગ દરમિયાન વધીને 2.36 લાખ થઇ.
• 1 લાખ રૂપિયાનું રોકાણ કરનારને મળ્યા 670 કરોડ રૂપિયા.
Elcid Investments Limited is a Public Company incorporated on 03 December 1981. It is classified as Indian Non-Government Company and is registered at Registrar of Companies, Mumbai. Its authorized share capital is Rs. 2,500,000. It is involved in the Financial Services and Investments. The Directors of the Company are Mr.Varun Amar Vakil, Mr.Mahesh Chimanlal Dalal, Ms.Dipika Amar Vakil, Mr. Ketan Chatrabhuj Kapadia, Mr. Amar Arvind Vakil and Mr. Bharat Bhaskar Talati. Elcid Investments Limited's Corporate Identification Number is (CIN) L65990MH1981PLC025770 and its registration number is 25770.Its Email address is vakilgroup@gmail.com and its registered address is 414 SHAH NAHAR (WORLI) IND ESTB WING DR E MOSES RD WORLI, MUMBAI - 400018, Maharashtra INDIA.
For retail investors chasing multibagger dreams, returns in the hundreds—or even thousands—can often feel too good to be true. But penny stock Elcid Investments has done the unthinkable, clocking an unimaginable return in a single trading session, positioning itself as the most expensive stock in the Indian stock markets and surpassing the long-standing record set by MRF.
This stunning rise has left many retail investors eyeing Elcid Investments closely, as the company’s stock price skyrocketed from a modest ₹3.53 to 2.36 lakh in a single day on October 29, creating history on Dalal Street.
In monetary terms, if an investor had held 10,000 shares in the company, their investment would have skyrocketed to an astounding ₹250 crore, all from an initial outlay of merely ₹35,300.
What triggered the stock's ascent to this unprecedented level?
The recent surge in its price isn't merely a response to earnings announcements or any other singular event. Instead, it resulted from a special call auction conducted without price bands, specifically designed for price discovery among investment holding companies organised by stock exchanges.
Historically, the stock has traded in a narrow range of ₹3 to ₹15. However, it boasts a remarkable book value of ₹4 lakh per share, indicating that it has been significantly undervalued in the market.
To bridge the gap between the current market value and the book value of holding companies, exchanges implemented a price discovery process for select investment holding companies through a special call auction mechanism on October 29.
The special call auction led to an astonishing price level of ₹2,36,250 per share, making the stock the most expensive on Dalal Street. This dramatic rise highlights the effectiveness of the new mechanism proposed by the recent SEBI circular, which sought to enhance price discovery for investment companies (ICs) and investment holding companies (IHCs).
Investment companies typically invest in a diverse array of financial instruments such as stocks, mutual funds, and debentures, while IHCs primarily retain ownership of their assets within group companies.
Both ICs and IHCs do not engage in active operations beyond their investment activities, which constitute their primary source of income and assets.
Elcid holds a 2.83% stake in Asian Paints, valued at approximately ₹8,500 crore based on recent market prices, which significantly supports its overall market valuation. This investment is a crucial asset for Elcid, enhancing its overall worth. The company also has stakes in several unlisted firms.
What does Elcid Investments do?
According to its recent FY24 annual report, Elcid's investments, including both debt and equity, are worth over ₹12,450 crore. The company operates as a non-banking financial company (NBFC) registered with the Reserve Bank of India (RBI) in the category of investment company.
Costliest stocks in India
In India, only 30 stocks boast a price exceeding ₹10,000, excluding Elcid Investments. Some of the high-value stocks include MRF, Page Industries, Honeywell Automation India, Shree Cement, 3M India, Abbott India, Nestle India, Bosch, Procter & Gamble Hygiene, and Lakshmi Machine Works.
સંપૂર્ણ માહિતી સમજવા માટે :અહી ક્લિક કરો
Elcid Investments has surged from ₹3.53 to ₹2.36 lakhs in one trading session, becoming India's most expensive stock. This unprecedented rise was fueled by a special call auction aimed at price discovery.
THIS is how little-known Elcid Investments went from ₹3 to ₹2.36 lakh, crossing MRF
For retail investors chasing multibagger dreams, returns in the hundreds—or even thousands—can often feel too good to be true. But penny stock Elcid Investments has done the unthinkable, clocking an unimaginable return in a single trading session, positioning itself as the most expensive stock in the Indian stock markets and surpassing the long-standing record set by MRF.
This stunning rise has left many retail investors eyeing Elcid Investments closely, as the company’s stock price skyrocketed from a modest ₹3.53 to 2.36 lakh in a single day on October 29, creating history on Dalal Street.
In monetary terms, if an investor had held 10,000 shares in the company, their investment would have skyrocketed to an astounding ₹250 crore, all from an initial outlay of merely ₹35,300.
What triggered the stock's ascent to this unprecedented level?
The recent surge in its price isn't merely a response to earnings announcements or any other singular event. Instead, it resulted from a special call auction conducted without price bands, specifically designed for price discovery among investment holding companies organised by stock exchanges.
Historically, the stock has traded in a narrow range of ₹3 to ₹15. However, it boasts a remarkable book value of ₹4 lakh per share, indicating that it has been significantly undervalued in the market.
To bridge the gap between the current market value and the book value of holding companies, exchanges implemented a price discovery process for select investment holding companies through a special call auction mechanism on October 29.
The special call auction led to an astonishing price level of ₹2,36,250 per share, making the stock the most expensive on Dalal Street. This dramatic rise highlights the effectiveness of the new mechanism proposed by the recent SEBI circular, which sought to enhance price discovery for investment companies (ICs) and investment holding companies (IHCs).
Investment companies typically invest in a diverse array of financial instruments such as stocks, mutual funds, and debentures, while IHCs primarily retain ownership of their assets within group companies.
Both ICs and IHCs do not engage in active operations beyond their investment activities, which constitute their primary source of income and assets.
Elcid holds a 2.83% stake in Asian Paints, valued at approximately ₹8,500 crore based on recent market prices, which significantly supports its overall market valuation. This investment is a crucial asset for Elcid, enhancing its overall worth. The company also has stakes in several unlisted firms.
What does Elcid Investments do?
According to its recent FY24 annual report, Elcid's investments, including both debt and equity, are worth over ₹12,450 crore. The company operates as a non-banking financial company (NBFC) registered with the Reserve Bank of India (RBI) in the category of investment company.
Costliest stocks in India
In India, only 30 stocks boast a price exceeding ₹10,000, excluding Elcid Investments. Some of the high-value stocks include MRF, Page Industries, Honeywell Automation India, Shree Cement, 3M India, Abbott India, Nestle India, Bosch, Procter & Gamble Hygiene, and Lakshmi Machine Works.
On a global scale, the title of the costliest stock in the world currently belongs to Berkshire Hathaway, the investment company led by Warren Buffett. Its share price is an astounding $682,920, which translates to approximately ₹5.6 crore per share.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
Explainer: Why Elcid Investment shares zoomed in one day.
Elcid Investments became the highest-priced stock on Tuesday after a special auction was held by the exchanges. What was the need for the auction and what made Elcid’s case unique?
Why did shares of Elcid Investments come into the limelight on Tuesday?
Shares of the investment company rose a staggering 6.7 million per cent to Rs 2,36,250 apiece, surpassing MRF as the highest-priced stock in India in absolute terms. This was after a special call auction “with no price bands” was held for the stock that last traded at Rs 3.5 per share, and has a book value of more than Rs 4 lakh per share.
Why were the shares languishing at such a low price all along?
Elcid Investment’s major source of revenue is interest and dividend earned on its significant investment portfolio, which categorizes it as a holding company. Typically, shares of holding companies trade at substantial discounts to their fair value, and Elcid was not an exception until recently. It has historically traded at an even steeper discount of almost 100 per cent to its book value.
“This deep undervaluation discouraged shareholders from selling at such levels, resulting in limited market liquidity and a persistent gap between the share price and its fair value,” said Raj Gaikar, Research Analyst, SAMCO Securities. There was also the price-band restriction of 5 per cent per day, which would have curbed share price movement.
Concerns about performance-related declines haven’t impacted Elcid, since it is just a holding company without much business operations, so decline in revenues or market share does not arise in this case, Gaikar said.
What prompted the exchanges to hold a special call on Tuesday?
A 2024 SEBI circular had proposed a new mechanism to improve the price discovery of investment companies (ICs) and investment holding companies (IHCs). ICs primarily invest in stocks, mutual funds, debentures, while IHCs hold most of their assets in group companies. Both ICs and IHCs have no other active line of operation. Investments are their primary assets and also their source of income.
“SEBI noticed that many ICs and IHCs are trading significantly below their book value. To help improve liquidity, fair price discovery, and overall investor interest in the stocks of such companies, SEBI introduced a framework for “special call auction with no price bands” for these stocks,” said a note by Zerodha.
Elcid share price stayed steady on Wednesday. Will they move further?
Even at ₹2.36 lakh per share, Elcid trades at a price-to-book multiple of just 0.38. While other holding companies generally trade at discounts to their book values, they have been relatively less undervalued due to better liquidity. The promoters of Asian Paints hold a 75 per cent stake in Elcid, while other major shareholders include Hydra Trading (9.04 per cent) and 3A Capital Services (3.34 per cent), data for the quarter ended September showed. “Elcid Investments has limited free float, which makes true price discovery challenging. Until more liquidity flows into the stock, the scope for accurate price discovery remains limited. Enough trading volume will be key for its true price discovery,” said Gaikar.
Was there a special auction for other holdcos as well?
The special auction was held for several holdcos, including Pilani Investments, Kalyani Investments, TVS Holdings and Maharashtra Scooters. The share price of most of the companies did not see a huge movement. Mask Investment, for instance, surged 47 per cent on October 28, after previously trading at a 79 per cent discount to its book value.
How does the special call auction work?
The special call auction window will be provided once a year only. The exchange must give at least 14 days advance notice about stocks that will open for the special call auction. The special call auction will be considered successful if at least five unique buyers and sellers participate in it. If price discovery is not successful on the first day, the auction will continue on subsequent days until price discovery is achieved.
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