India’s Most Expensive Stock Posts Stellar Q2: 150 Per Cent Revenue Jump, 179 Per Cent Profit Surge! Trading Below Book Value

This stock is more expensive than MRF. How a Single-Digit Share Value Soared to Six Figures in 4 Months!

Elcid Investments Ltd, India’s most expensive stock, trades at Rs 2,98,252 as of November 12, 2024. Known for its high-value shares, Elcid's remarkable journey reflects its robust financials and a unique price discovery mechanism.

In Q2 FY24, Elcid reported a net profit of Rs 43.47 crore, marking a 179.37 per cent year-on-year (YoY) increase, while revenue rose 149.62 per cent YoY to Rs 56.34 crore. dividend income grew by 19.47 per cent YoY to Rs 2.27 crore, interest income surged 57.35 per cent YoY to Rs 7.27 lakh, and net gains on fair value changes soared 161 per cent YoY to Rs 53.99 crore.

The stock’s meteoric rise began in October when its price skyrocketed from Rs 3 to Rs 2 lakh following a special auction conducted by the BSE. The auction aimed to bridge the gap between the market price and the book value of investment holding companies. On October 29, Elcid's shares relisted at Rs 2,36,250 per share, marking a staggering 66,85,452 per cent surge, overtaking MRF as India’s costliest stock.

Despite the price discovery, Elcid’s shares remain below its book value of around Rs 4 lakh per share. As of now, the stock is locked at the 5 per cent lower circuit, trading at Rs 2,98,252.25.

Elcid Investments is an RBI-registered non-banking financial company (NBFC) under the Investment Company category. Holding companies like Elcid primarily invest in shares of listed firms but don’t engage in daily operations. This often results in their shares trading at significant discounts to book value due to low liquidity. Notably, Elcid holds a 2.83 per cent stake in Asian Paints.

Disclaimer: This article is for informational purposes only and should not be construed as investment advice.