MUMBAI: Elcid Investments, a little-known city-based NBFC with very high earnings per share, has become the most expensive stock in India overnight, ahead of Chennai-based tyre maker MRF. On Tuesday, the stock price of Elcid jumped a mind-blowing 66,926 times to close at Rs 2.36 lakh from just Rs 3.53 on June 21 this year, when it was last traded on BSE. In comparison, MFR closed at a little over Rs 1.23 lakh.

The Elcid stock opened at Rs 2.25 lakh on Tuesday, fluctuated between Rs 2.14 lakh and Rs 2.36 lakh, and closed at the day’s high level. Although official trading data from vendors showed that the stock was last traded at Rs 3.53 on June 21 this year, the BSE website showed its previous close was Rs 1.61 lakh.
Elcid’s main business is to invest in shares, debentures, mutual funds etc, and it conducts its business through two subsidiaries – Murahar Investments & Trading and Suptaswar Investments & Trading.