Elcid Investment becomes India's most expensive stock, surpassing MRF with a dramatic price rise
businesstoday.in — October 29, 2024, 08:01 AM UTC
Elcid Investment Ltd has become India's most expensive stock, trading at Rs 2,36,250 as of October 29, 2024. This is a significant rise from just Rs 3.21 in July. The stock's market capitalization is nearly Rs 4,800 crore. The company was relisted on the Bombay Stock Exchange after a special auction for select investment holding companies. Elcid's high price is largely due to its stake in Asian Paints, which has driven investor interest. Despite its high trading price, Elcid's stock is still at a 45% discount compared to its intrinsic value of Rs 4.25 lakh per share. Investors are advised to consider liquidity risks when investing in such companies.