You could have made ₹70 crore by investing ₹10,000 into Elcid Investments stock a year ago

Elcid Investments Ltd which initially started out as a penny stock has now hit ₹2,36,250, surpassing even MRF Ltd to become India's costliest stock to buy

Updated on: Oct 31, 2024, 06:23:49 IST

By HT News Desk

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Elcid Investments Ltd which initially started out as a penny stock has now hit ₹2,36,250, surpassing even MRF Ltd to become India's costliest stock to buy.

Elcid Investments: A bird flies past a screen displaying the Sensex results on the facade of the Bombay Stock Exchange (BSE) building in Mumbai, February 1, 2023. (Niharika Kulkarni/Reuters)

This brings in the question of how much money one could have made if they had invested in it earlier when it was a penny stock.

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The Bombay Stock exchange website shows that the company's stock at a 52-week low was at ₹3.37. That means that from that point, the stock has now multiplied 70,104 times in value.

So how much money would one have made if they had invested ₹10,000 into Elcid Investments let's say when it was at its 52-week low of ₹3.37?

₹10,000 at that time would have gotten one 2,967 shares of Elcid Investments. That means those shares would now be worth ₹70,09,53,750.

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Why did Elcid Investments shares rise so high?

The sky-high stock price came after the company was relisted on the BSE on Tuesday, October 29, 2024. It's market capitalization is ₹4,725 crore now.

One of the main reasons for Elcid Investments to be priced this high is that it holds 2,83,13,860 equity shares or a 2.95% stake in Asian Paints Ltd, which is worth close to ₹8,500 crore.

The relisting of Elcid Investments through a special call auction mechanism for a price discovery on Monday and the rate settlement on Tuesday was announced in a BSE circular dated October 21, 2024 after the promoters made a voluntary offer to delist it which didn't happen due to non-receipt of requisite majority of public shareholders.

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HT News Desk
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