The tyres manufacturing company MRF is trading at Rs 1.2 lakh, while shares of this small-cap company entered the Indian stock market at double that price. Ironically, in July, the per-share price was Rs 3.21
If you believe that shares of Madras Rubber Factory Limited are the costliest on the Indian stock market, you are mistaken. Another company’s stock has surpassed MRF’s shares and now holds the title of the most expensive stock.
The tyres manufacturing company MRF is trading at Rs 1.2 lakh, while shares of this small-cap company entered the Indian stock market at double that price. Ironically, in July, the per-share price was Rs 3.21
The small-cap stock Elcid Investment Ltd has surpassed MRF, having been listed on the BSE on October 29. Its price reached Rs 225,000, but during intraday trading, it surged by 5% to Rs 236,250. Now, its total market capitalization has reached Rs 4,800 crore.
In a circular released on October 21, the BSE announced plans to conduct a special call auction on Monday to improve price discovery for listed investment companies and investment holding companies.
The promoters of Elcid Investment proposed delisting at a base price of ₹161,023 per share. However, shareholders refused to support the plan and it led to its failure.
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