Tue Oct 29 15:40:15 UTC 2024: ## Elcid Investments Limited Overtakes MRF as India’s Most Expensive Stock

**Mumbai, October 29, 2024** – Elcid Investments Limited, a non-banking financial company (NBFC) and part of the promoter group of Asian Paints Limited, has emerged as the most expensive stock traded on Indian exchanges, surpassing MRF Limited in share price.

Elcid Investments Limited’s shares surged 5% in the day’s trade, hitting an upper circuit of Rs. 2,36,250 per share, up from Rs. 1,61,023 on the previous day. The company’s market capitalization stands at Rs. 4,725 Crores.

The company, promoted by the Vakil family, holds a significant stake in Asian Paints Limited (~2.83 Crore shares, estimated value of ~Rs. 8,494.16 Crores) and also has multiple investments in other well-known companies.

Elcid Investments Limited’s stock was previously illiquid and traded at around Rs. 3 per share due to a failed delisting attempt in 2013. The recent revaluation on the Indian Stock Exchanges has pushed the price to its current record high.

The company has seen strong financial performance with revenue from operations growing by 38.58% YoY in Q1FY25 and Net Profit growing by 40% YoY.

**Note:** Investors are cautioned that investing in equities poses financial risks, and it is recommended to consult with an investment advisor before making any decisions based on this article.

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