Once a Overnight Multibagger, Elcid Investments Stock Now Erodes Investor Wealth

New Delhi: A stock that once turned investors into overnight millionaires is now inflicting heavy losses. Shares of Elcid Investments Ltd, which stunned the market in 2024 with an unprecedented price surge, have since been on a sustained decline, falling more than 25% over the past year.

On Monday, the stock closed at ₹1,14,449.95, registering only a marginal recovery. A year ago, it was trading around ₹1,56,028. The stock has declined roughly 27% in 12 months, while slipping 9% over the past month and 17% in six months. From its all-time high of ₹3,32,399.95, the stock has plunged nearly 65%, erasing more than half of investor wealth.

From ₹3 to Over ₹2.3 Lakh in a Day

Elcid Investments had grabbed headlines in October 2024 after an extraordinary revaluation event. The stock price skyrocketed from just ₹3.53 to ₹2,36,250 in a single special auction session — a rise of over 66,92,000%. It later climbed further to its lifetime high above ₹3.3 lakh.

The dramatic spike followed regulatory intervention. The Securities and Exchange Board of India (SEBI) had directed exchanges to conduct special auction sessions for holding companies whose market prices were trading far below their book value. Elcid’s book value stood at approximately ₹5,85,225 per share, creating a massive gap between intrinsic and market valuation.

Prior to the auction, the stock had seen virtually no trading since 2011 because investors were unwilling to sell at depressed prices, despite its high book value. The special session unlocked price discovery — but the extreme surge was followed by sharp corrections.

Investors Face Sharp Reversal

While the stock once symbolized windfall gains, its subsequent slide highlights the risks of extreme valuation swings. Market experts warn that such extraordinary price movements often carry high volatility and can reverse quickly.

Disclaimer: The views and analysis mentioned are based on market data and public reporting. Investors are advised to consult certified financial advisors before making investment decisions, as stock market conditions can change rapidly.