If you are thinking that the most expensive share in the country is that of MRF, then you are mistaken. There is also a small finance company which is also the father of MRF in terms of stock price. Yes, Alcid Investment’s share has now become the most expensive share in the country. Whose price is more than Rs 2.36 lakh. The special thing is that the price of this share has seen an increase of 67 lakh percent in the last one year. This means that if someone had invested Rs 1 lakh in this share, its value would have become Rs 670 crore. Let us also tell you what kind of figures are being seen in the stock market.
This is how the prices rose
A tremendous increase has been seen in the shares of Alcid Investments. But how did this increase happen? It is very important to understand this also. In fact, the company had held a special auction for share price discovery. Due to high book value of the company, the share price of the company increased from Rs 3.53 to Rs 236,250. After which Alcid’s share became the most expensive stock in the country. Till now the most expensive share in the country was that of MRF. Whose current price on BSE is Rs 1,22,576.50. This means that Alcid’s share has doubled than MRF’s share.
All records were broken
The world has seen such a boom in the crypto market. When the price of cryptocurrency increases several thousand or even times in a week or two. But this kind of growth is never seen in the stock market. In a single day, the company’s shares jumped by 66,92,535 percent and became the most expensive stock in the country. If we talk about Tuesday, the company’s shares opened on BSE at Rs 2.25 lakh and reached a life time high of Rs 2,36,250. Whereas the company’s shares were last seen trading on June 21. Then the company’s shares had increased by Rs 3.53. The 52-week low of the company’s shares is Rs 3.21, which was seen on July 4, 2023.
One lakh became 670 crores
The special thing is that if any investor had invested Rs 1 lakh at a value of Rs 3.53, then the luck of that investor would have changed. Yes, its value would have been several hundred crores of rupees. According to the data, an investment of Rs 1 lakh would have yielded 28,329 shares at Rs 3.53 per share. Now the value of one share has become Rs 2.36 lakh. This means that the value of 28,329 shares would have increased to Rs 670 crore. This means that by investing Rs 1 lakh the investor would have become a billionaire in a single day.
The auction was held at the behest of SEBI
Now the biggest question is that how can the value of a share increase by 67 lakh percent in a single day? There is no fraud anywhere. But this is not visible in the case of Alcid because this entire matter is already in the eyes of SEBI. In fact, on Monday, BSE and NSE had released the results of the special stock auction, which was conducted to find out the value of the company’s shares. There was a rise in the shares of the company in that stock auction. In order to reduce the difference between the current market value and book value of these special stock auction holding companies, SEBI had asked the exchanges to conduct an auction session with heavy discount. At present the market cap of Alcid is Rs 4,725 and it has 1.28 percent stake in Asian Paints.
