You could have earned ₹70 crore if you had invested ₹10,000 in shares of Elcid Investments a year ago

Elcid Investments Ltd, which originally started as a penny stock, is now successful ₹2,36,250, surpassing even MRF Ltd to become India's most expensive stock to buy.

This raises the question of how much money you could have made if you had invested in the stock earlier when it was still a penny stock.

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

So how much money would you have made if you had invested? ₹10,000 in Elcid Investments, say, when it was at its 52-week low of ₹3.37?

₹At that time, 10,000 would have received 2,967 shares of Elcid Investments. This means that these shares would be worth now ₹70,09,53,750.

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Why did Elcid Investments shares rise so much?

The share price surged after the company re-listed on the BSE on Tuesday, October 29, 2024. The market capitalization is ₹Now 4,725 crore.

One of the main reasons why Elcid Investments is valued so highly is that it holds 2,83,13,860 shares or a 2.95% stake in Asian Paints Ltd, which is close to 2.95% ₹8,500 crore.

The re-listing of Elcid Investments through a special call auction mechanism for price discovery on Monday and price fixation on Tuesday was announced in a BSE circular dated October 21, 2024, after the promoters made a voluntary delisting offer which was not implemented without notice due to failure to obtain the required majority of public shareholders.

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