Elcid Investments: If you are amazed with Elcid Investments, here is the information which will make it seem normal to you and even help you to predict some more stocks like it.
Moreover, If you are investing in Elcid Investments, you should be aware of these points.
For quite some time Elcid Investments is making a buzz all over the stock market, because of how a penny stock became the most expensive stock overnight.
While there are multiple of factors working to make it happen, and you need to know this before investing in Elcid Investments.
Why Elcid Investments is making noise in market?
Elcid Investments was a penny stock listed on the BSE which had made their shareholders wealthier by giving exaggerating return of nearly 67000 times per share in just one single session.
Before October 29 Elcid Investments had share worth 3.5 since June 21 however all of it changes on a single day of October 29 where the share price skyrockets to 2.36 lakh making it India’s most expensive stock surpasses Tyre major MRF which cost around 1.22 lakh apiece.
How Elcid Investments made 67000 times return in a Single Day?
Unlike normal share prices which strict by any news or financial performance, Elcid Investments share prices spiked after conduct of special call auction for price discovery.
For Special Call window is provided only once with exchange given notice of at least 14 days in advance, and will be considered successful if at least five unique buyers and sellers participates. If crisis not discovered in first day then the process is being scheduled on next day until price discovery is achieved.
Following special call auction Elcid Investments was real estate with 2.36 lakh.
Moreover, it is a still a wonder that how this price is significantly lower than Elcid Investments impressive book value of Rs. 5,85,225.
Can Elcid Investments Still Get More Value?
Because Elcid Investments price to book multiple still at just 0.38, and while other companies trade at discount to their book values Elcid Investments is still undevalued.
The Stake-owners in Elcid Investments include promoters of Asian paints, hydra trading and 3A capital services. Moreover until mole liquidity flows into the stock the scope of accurate price discovery remains limited.
This have excited a lot of risk lovers into the Elcid Investments, however because of lack of retail shareholders one can’t be too sure as this might be a pump and dump or maybe any other scam.
What does Elcid Investments Actually Do?
A non-banking finance company, Elcid Investments Limited is registered with the Reserve Bank of India. The Bombay Stock Exchange in Mumbai is where the company’s shares are listed.The firm is a non-banking finance organisation that invests in mutual funds, shares, debentures, and other securities.
Murahar Investments & Trading Company Limited and Suptaswar Investments & Trading Company Limited are the company’s two subsidiaries. Additionally, both of these subsidiaries are listed as non-banking finance companies with the Reserve Bank of India.
All in all, this isn’t the first time that a penis talk have seen such a ab search in their stock prices. However it wouldn’t be last time either, Plus all the seasoned investors are not even interested in this kind of stocks because this kind of stocks is one which is real gamble in the stock market.
Disclaimer: Demat Dive is not giving any buying advice on any stock. Consult a SEBI registered advisor before investing anywhere.
