Elcid Investments becomes India's most expensive stock with record price surge
timesnownews.com — November 2, 2024, 08:01 AM UTC
Elcid Investments has become India's most expensive stock after its share price jumped from Rs 3.53 to Rs 2,36,250 in a single day. This increase means it now costs twice as much as MRF, which is priced at Rs 1,23,301.20. On November 1, Elcid's shares rose by Rs 12,403.10, reaching a record high of Rs 2,60,465.60. This surge followed a special auction session aimed at aligning the stock's price with its book value, which had been dormant for years. The stock's dramatic rise has significantly reduced its dividend yield, which was previously very high due to its low trading price. Experts caution that a high share price does not always reflect a stock's true value.