Check Shares Like Elcid Investment

Something notable happened around Diwali 2024 other than Muhurat Trading. Elcid Investment shares skyrocketed to become the most expensive in India beating tyre giant MRF. This happened after BSE, in line with SEBi’s circular, held a special auction for price discovery of investment holding companies that were trading below their book value. 

Elcid Investments Ltd began its journey as a penny stock valued at just ₹3.21 as of July 2024. However, its shares soared multiple times in just a few months after being relisted. As of November 6, 2024, 1:20 PM, Elcid Investment shares traded at ₹3,01,521.40, up 5%.

In this blog, let us examine other shares like Elcid Investment.

List of Shares Like Elcid Investment

1. Maharashtra Scooters Ltd: Maharashtra Scooters Ltd. is an unregistered Core Investment Company (‘CIC’). As a CIC, a minimum of 90% of its assets stand invested in the Bajaj group and the balance in debt and other instruments.
2. Pilani Investment and Industries Corporation Limited: Pilani Investment and Industries Corporation Limited is registered as a non-deposit-taking NBFC with the Reserve Bank of India. It functions as a core investment company with its main activity being investment in shares and securities of the Birla group companies.
3. Nalwa Sons Investments Ltd: Nalwa Sons Investments Ltd is a non-NBFC Company engaged in the business of investing in shares and granting loans to the group companies.
4. Kalyani Investment Company Ltd: Kalyani Investment Co. Ltd. is a part of the Kalyani Group. The Co. is a Core Investment Company holding more than 60% of its net assets in the form of investments in equity shares of Group Companies.

Conclusion

Elcid Investment Ltd was among companies like Nalwa Sons Investments, TVS Holdings, Kalyani Investment Company, SIL Investments, Maharashtra Scooters, GFL, Haryana Capfin and Pilani Investment and Industries Corporation which saw a relisting as they were trading below their book value.

However, Elcid’s phenomenon should not seen as a norm or event that will repeat in case of other similar stocks. Stock market is highly volatile and unpredictable so it is crucial to exercise caution before investing in any shares.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.