Elcid Investments shares drop 19% in 6 sessions to Rs 2.68 lakh apiece
Elcid Investments, which became an overnight sensation on D-Street after its stock price surged 66,92,535% in a single session on October 29, 2024, has corrected by 19% in the last six trading sessions.
After hitting a peak of Rs 3,30,473.35 on the BSE on November 8, the stock has been on a downhill. On Tuesday, it settled at Rs 2,68,336.80.
On November 12, the company announced its quarterly earnings where it reported a 68% sequential drop in its Q2FY25 net profit at Rs 43.47 crore versus Rs 136 crore posted by the company in the year ago period. Though the profit surged by 179% on an year-on-year basis versus Rs 15.56 crore in Q2FY24.
Total revenue from operations in the July-September quarter stood at Rs 56.34 crore versus Rs 22.57 crore in the year ago period. The revenue uptick stood at 149% on a YoY basis. However, it was down on a quarter-on-quarter basis from Rs 177.53 crore in Q1FY25. This translates into a 68% decline over the April-June quarter of FY2025.
On October 29, Elcid's share price had ended at Rs 2,36,250 rising from just Rs 3.53 on the previous day. The little-known smallcap stock made a history on D-Street with its record rally and it is now India's most highly-priced stock as it is trading above MRF's share price of Rs 1.23 lakh.
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