Elcid Investments: Amidst the decline in the Indian stock market, a miracle has happened which is very difficult to believe. Actually, there is a company whose share price has increased from Rs 3.53 to Rs 2,36,250 in a single day. Yes, on October 29, an increase of 66,92,535 percent has been recorded in the share price of Alcide Investments. After this surge, Elcid Investments' share became the most expensive share in the Indian stock market, overtaking MRF. On Tuesday, MRF shares closed at Rs 1,22,576.
Changes after special call auction session
Actually, this increase in shares of Alcid Investments happened after a special call auction session held on the Bombay Stock Exchange (BSE) aimed at ascertaining the prices of holding companies, where the shares of Alcid were priced at Rs 2.25 lakh. Surprisingly, its price is still much less than the company's book value of Rs 5,85,225. Let us tell you that this company is very generous in giving dividends to its shareholders.
How has been the dividend history of the company?
In the financial year 2024-25, the company had given a dividend of Rs 25 to the shareholders, which is the highest dividend yield in the industry of more than 708%. Dividend yield is calculated by dividing the annual dividend per share by the share price. The company had also given a dividend of Rs 25 to the investors for the financial year 2023-24, whereas in the previous 3 years the company had given a dividend of Rs 15. Its dividend yield in the period from financial year 2020-21 to financial year 2022-23 was 425%.
Most expensive share of Indian stock market
However, with the share price surging after the special call auction session for price discovery in the holding companies, the dividend yield is expected to decline significantly. Because previously the dividend yield was unusually high because the stock was trading well below its book value. At present, this smallcap stock has created history in the stock market with its record rally. Earlier, MRF was the only stock in India whose price was more than Rs 1 lakh.
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