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The stock of Elcid Investments, which had once increased from Rs 3 to Rs 3 lakh, is now facing a continuous decline. This stock had once become the most expensive stock in the Indian stock market, but currently its prices have declined drastically.
The price had increased from Rs 3 to Rs 3 lakh.
The share of Alcide Investments Limited rose from Rs 3.53 lakh to Rs 2.36 lakh in a single day on 29 October 2024, making it the most expensive stock in the Indian stock market. This rise made investors millionaires overnight, as the price of this share increased by 66,92,535 percent. After this, on November 8, it touched its high level price of Rs 3,32,400 per share.
Now the stock is continuously falling
However, since then there has been a continuous decline in the share prices of Alcid Investments. This stock has fallen by almost 60 percent in the last two months. By the end of January its price has come down to around Rs 1.28 lakh, which is a big fall.
There has been a decline of 32 percent in this stock in the last one month. At the same time, this share has fallen by about 7 percent in the last 5 days. On January 27, 2025, this share was trading at a price of Rs 1,28,000. On Monday also a decline of 3.64 percent was seen in this stock.
This sudden decline has created an atmosphere of concern among investors. Many investors who had invested heavily in this stock are now facing losses. Despite the company having stake in big companies like Asian Paints, its current performance has been disappointing.
Current status of the company
Alcide Investments has applied for registration as a Non-Banking Financial Company (NBFC) with the Reserve Bank of India (RBI). The company currently has no operating business, but it holds shares in several unlisted companies. Moreover, the market value of its stake in Asian Paints is around Rs 8500 crore, which gives it a strong base.
Experts believe that if the company successfully achieves its NBFC registration and strengthens its business model, then this situation can change. However, seeing the negative movement of the market at present, investors are being advised to remain cautious.
Disclaimer: (The information provided here is being provided for information only. It is important to note here that investment in the market is subject to market risks. Always seek expert advice before investing money as an investor. ABPLive.com does not advise anyone It is never advisable to invest money here.)
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