Do you know how 66,92,535% return possible in 1 day?
Elcid Investments (Investment and financial services company) has created a record in the stock market today which seems unlikely to be broken for some time to come.
You will surprise Smallcap stock Elcid just did that and even broke MRF record , This is the strength of stock market.
In fact, the stock of the Mumbai based investment firm has achieved the highest price level recorded for any company on BSE. With this, the stock MRF, which had been number one in terms of price level for a long time, became number two. The stock closed at Rs 2,36,250 on BSE. MRF closed at the level of 1,22,576 on Tuesday-29-Oct-24, This is big new made.
How high is the closing of Elcid Investments shows that it is equal to the price of 29 grams of gold in today’s bullion market, that too when gold is at record levels.
This is too surprise scenario made & this is most important thing in this is that the stock has increased from the level of around Rs 4 to Rs 2.36 lakh in just two days. The situation is that if an investor had invested Rs 1 lakh in the stock a few days ago, the investment value today would have been Rs 670 crore. Really in stock market very less such incident happend once in while.
I know you can’t believe but this is really of stock market ,Too good to be true? Rs 1 lakh investment in Elcid Investments stock would have yielded Rs 670 crore in few months
As on December 2022. Elcid Investments is a non-banking financial company (NBFC) registered with the Reserve Bank of India (RBI) under the category of Investment Company. It holds ~4.2% stake in the company which has a total value of ~12,664 crores
- Market Cap: ₹4,725 Cr.
- Revenue (TTM): ₹282.79 Cr.
- Earnings (TTM): ₹213.65 Cr.
- Net Worth: ₹11,686.58 Cr.
- Promoters’ ownership: 75.00%
- Liquidity: Low.
- 52 Week range: ₹3.37 – 2,36,250.00.
Key points:
- The company is almost debt-free.
- The stock is trading at 0.40 times its book value.
- The company is expected to give a good quarter.
- The company has delivered good profit growth of 26.3% CAGR over the last 5 years.
- The company’s median sales growth is 27.3% of the last 10 years.
I am taking detail today-30-Oct-24 from screener , Just see detail as below
Why & How made this record level seen?
The story at this price level is somewhat different.
Really this is not the madness of investors, there are some steps taken & made rule by SEBI behind this.
Reason behind it this mind-boggling level of prices has been seen due to a special call auction for price discovery of the holding companies.
In June this 12 months itself, SEBI had requested the inventory exchanges to behavior unique name public sale in sure preserving agencies. These had been the ones preserving agencies whose inventory expenses had been at a large bargain to their ee-e book fee.
The first such name public sale happened on October 28, below which Elcid’s stocks accelerated through Rs 2,36,246.forty seven in only 2 sessions. The unique component is that per week in the past the inventory became at the extent of Rs 3.53. However, this degree became at a large bargain as compared to the ee-e book fee.
SEBI stated in its June round that the distinction among the marketplace fee and ee-e book fee of a few preserving agencies has a poor effect on liquidity, honest rate discovery and the hobby of buyers of such agencies.
what does the corporation do
Holding agencies do now no longer do any commercial enterprise in their very own however they maintain stakes in different agencies. Elcid Investments is the promoter of Asian Paints. Elcid has 2.ninety five percentage stake withinside the corporation and the fee of this stake is Rs 8471 crore. However, in keeping with Tuesday’s last rate, the marketplace fee of Elcid is Rs 4725 crore.
The range of everlasting personnel withinside the corporation is much less than 5. The corporation’s earnings withinside the monetary 12 months 2024 accelerated through 139 percentage to Rs 176 crore. The profits has additionally doubled to Rs 236 crore.
The range of exquisite stocks of the corporation until September 2024 is handiest 2 lakh, out of which seventy five percentage stocks are with the promoter. 241 stocks had been traded on BSE on Tuesday. Whereas the common extent of 10 days is handiest 5.
So enjoy your days & be invested ion stock market to get such profit , ultimately market goes up.
Disclaimer–> You should take always advice from your finace advisor before invest in stock market.