Elcid Investments recently made history by becoming the most expensive Indian stock ever surpassing MRF. But you probably aren't buying the stock after the recent rise. Here’s why.

What Happened: Elcid Investment's low liquidity and minimal trading volumes make it difficult for investors to buy the stock, as every purchase requires a seller. On Monday, only 51 shares traded, with 59 shares changing hands in the previous session. The stock's weekly trading volume stands at just 138 shares, reflecting limited market activity.

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Elcid has a total of 2 lakh shares, held by only 328 investors as per the shareholding pattern as of September 2024. Of these, the promoter group holds 1.5 lakh shares, while the remaining 50,000 shares are owned by 322 public investors. Over recent years, trading in Elcid shares has been extremely limited, with almost no change of hands, as sellers have been virtually absent.

Elicd Investments' stock soared after SEBI conducted a special auction for price discovery for investment holding companies on October 28. The stock which was trading at ₹3.53 skyrocketed to ₹2,36,250. 

Price Action: Elcid’s share price rose 5% to hit the upper circuit of ₹2,73,488.84 on Monday. 

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