Elcid Investments: Amid the crash of the Indian stock market, a miracle has occurred which is very difficult to believe. In fact, there is a company whose share price 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 was recorded in the share price of Alcide Investments. After this rise, Elcid Investments stock became the most expensive stock in the Indian stock market, surpassing MRF. On Tuesday, MRF shares closed at Rs 1,22,576.
Changes after special call auction session
Actually, this rise in the shares of Alcid Investments came after a special auction session held at the Bombay Stock Exchange (BSE) with the objective of determining the prices of the holding companies, where the shares of Alcid had a priced at Rs 2.25 lakh. Surprisingly, its price is still much lower 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.
What has the company’s dividend history been like?
In FY 2024-25, the company had distributed a dividend of Rs 25 to shareholders, which is the highest dividend yield in the industry at over 708%. The dividend yield is calculated by dividing the annual dividend per share by the share price. The company had also distributed a dividend of Rs 25 to investors for the financial year 2023-24, while in the previous 3 years the company had distributed a dividend of Rs 15. Its dividend yield in the period between FY 2020-21 and FY 2022-23 was 425%.
The most expensive stock in the Indian stock market
However, with the share price increasing after the special auction session to determine the price in the holding companies, the dividend yield is expected to decrease significantly. Because before the dividend yield was unusually high because the stock was trading well below its book value. Today, this small-cap stock has made history in the stock market with its record rally. Earlier, MRF was the only stock in India priced above Rs 1 lakh.
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