66,92,535% jump! If trees don't grow to the sky then how did Elcid shares defy gravity
Elcid Investments has gone down in the annals of Dalal Street as a rare exception, with a mind-boggling 66,92,535% jump in share prices, leaving both old and young investors dumbfounded.
The little-known stock, which was traded only once in 2024, saw just 500 shares change hands at Rs 3.53 apiece on June 21. On Tuesday, its share price suddenly jumped to Rs 2,36,250, with a small trading volume of 241 shares.
That amounts to an unprecedented rise of 66,92,535% in just one day.
At a per-share price of Rs 2.36 lakh, Elcid is now India's most highly priced stock, surpassing MRF's Rs 1.2 lakh price tag.
So, how could a stock jump by 6.7 million percent in a single trading session when we have daily upper circuit limits to control volatility on both sides?
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