There are many multibagger stocks in the Indian stock market, which have given huge sums of money to their investors. There are some stocks which have made their investors millionaires in just a few months. Let us tell you today about one such stock which turned an investment of Rs 1,000 into Rs 6 crore in just 6 months. The biggest thing is that this share is still trading much below its fair value.
Rs 1000 turned into Rs 6 crore
The share of the company we are talking about was worth Rs 3.53 on June 21, 2024. But, today the price of one share of this company is Rs 2 lakh 26 thousand 533. The name of the company with this multibagger share is Elcid Investments Ltd. If you had taken 300 shares of this company on June 21, 2024, their price would have been Rs 1059. But, today the price of the same 300 shares would have been Rs 6 crore 79 lakh 59 thousand 900.
Trading at a price lower than its book value
The share of Elcid Investments Ltd may be the most expensive share in the Indian stock market, but despite this it is still trading below its fair value. Actually, if we talk about the book value of the company’s shares, it is Rs 6 lakh 85 thousand 220. Whereas, by the time the market closed today i.e. on Wednesday, the price of one share of Alcid Investment Limited was Rs 2 lakh 26 thousand 533.
Talking about the market cap of the company, it is Rs 4,531 crore. Whereas, the stock PE is 18.8. The ROCE of the stock is 2.02 percent and the ROE of the company is 1.53 percent. Talking about the face value of Alcide Investment Limited, it is Rs 10. At the same time, if we talk about 52 week high of this share, it is Rs 3 lakh 32 thousand 400.
How did the share price rise so much
Actually, this spectacular rise in Alcide Investment Limited was due to a special call auction for price discovery in investor holding companies organized by BSE and NSE.
Read this also: Multibagger Stock: Found the twin brother of Alcid Investment, converted Rs 10 thousand into more than Rs 1 crore in one year
Disclaimer: (The information provided here is being provided for information only. It is important to note here that investment in the market is subject to market risks. Always seek expert advice before investing money as an investor. ABPLive.com does not advise anyone It is never advisable to invest money here.)
