Just imagine that Rs 6 lakh crores are being cleared in the market in a day. Shares ranging from Reliance Industries to Adani Enterprises are seeing a decline of 3% and 2% respectively, but there is no visible impact on the recently discussed stock Alcide Investments. Leave aside the decline, the stock is continuously hitting the upper circuit. Why is this happening? Is it going to remain the same in future too? Today you will know the complete details and will also tell you what an investor should do in a falling market?
How is Alcid Investment’s stock doing?
A spectacular rise is being seen in the shares of Elcid Investments Ord Shs. On November 4, the stock jumped 5 percent to Rs 2,73,488. The stock has risen by Rs 13,023.25 in a day. The total price of many stocks is as much as this stock is rising in a day.
The reason behind this rise in this stock is its solid fundamentals. You can see that the PE ratio of the company is 24 despite such a high price. Which is considered to be the best category PE ratio. Similar is the condition of the company’s EPS also. The most special thing about this stock is its stake in Asian Paints.
Why is Alcide’s stock rising?
On hearing the name of this stock, a question arises in people’s mind that what is this company doing that its shares are continuously rising. In fact, one of its major assets is its 2.83% stake in Asian Paints, which is worth about ₹8,500 crore.
Alcide does not run any active business, but makes money through his investments in various companies. This is the reason why its investors are trusting its growth, and the stock is witnessing a continuous rise, in which this momentum may continue further.
Selling continues in the market
On the other hand, selling continues in the stock market. Both Sensex and Nifty are closing trading in decline. On November 4, Sensex closed at 78,782.24 with a fall of 942 points or 1.18 percent, while Nifty closed at 23,995.35 with a fall of 309 points or 1.27 percent. This ongoing selling in the market can be seen throughout this week.
