Alcide Investments Limited, which initially started as a penny stock, has now become a hit 2,36,250, making it India's most expensive stock, surpassing even MRF Ltd.
This brings up the question of how much money someone could have made if they had invested in it earlier, when it was a penny stock.
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The Bombay Stock Exchange website shows that the company's shares were at a 52-week low. 3.37. This means that since that point, the stock is now worth 70,104 times.
So how much money would someone have earned if they had invested? Rs 10,000 in Alcid Investments. Let's say when it was at its 52-week low 3.37?
At that time, Rs 10,000 would have bought 2,967 shares of Alcide Investments. This means that those shares will now be worth 70,09,53,750.
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Why did Alcide Investments shares rise so high?
The share price skyrocketed after the company re-listed on BSE on Tuesday, October 29, 2024. Its market capitalization is Now Rs 4,725 crore.
One of the main reasons why Alcide Investments is priced so high is that it holds 2,83,13,860 equity shares or 2.95% stake in Asian Paints Limited, which is valued close to this. 8,500 crores.
The re-listing of Alcide Investments through a special call auction mechanism for price discovery on Monday and rate settlement on Tuesday was announced in a BSE circular dated October 21, 2024, when the promoters submitted a voluntary order to delist it. Was offered, due to which it did not happen. Non-obtainment of required majority of public shareholders.
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