Investment and financial services company Elcid Investments has made such a record in the stock market today that it does not seem possible to break it for some time to come. In fact, the stock of the Mumbai based investment firm has achieved the highest price level ever recorded for any company on the BSE. With this, the stock pushed MRF, which has been number one in the price level for a long time, to number two. The stock closed at 2,36,250 on the BSE. MRF closed at 1,22,576 on Tuesday. How high is the closing of Elcid Investments can be known from the fact that it is equal to the price of 29 grams of gold in today's bullion market, that too when gold is at record levels.

The most important thing in this is that the stock has increased from the level of about Rs 4 to Rs 2.36 lakh in just two days. The situation is that if an investor had invested one lakh in the stock a few days ago, then today the investment would have been worth Rs 670 crore.

Why the record level was seen However, the story of this level of prices is somewhat different. This is not the madness of investors, there are some steps taken by SEBI behind this. Actually, this mind-boggling level of prices has been seen due to a special call auction for price discovery of holding companies. In June this year, SEBI had asked the stock markets to conduct special call auction in some special holding companies. These were the holding companies whose stock price levels were at a considerable discount from their book value. The first such call auction took place on October 28, under which the share of Elcid increased by 2,36,246.47 in just 2 sessions. The special thing is that a week ago the stock was at the level of 3.53. However, this level was at a huge discount compared to the book value. SEBI said in its June circular that the difference between the market value and book value of some holding companies has a negative impact on liquidity, fair price discovery and the interest of investors of such companies. What does the company do  Holding companies do not do any business of their own but they hold stakes in other companies. Elcid Investments is the promoter of Asian Paints. Elcid has a 2.95 percent stake in the company and the value of this stake is Rs 8471 crore. However, as per Tuesday's closing price, the market value of Elcid is Rs 4725 crore. The number of permanent employees in the company is less than 5. The company's profit in FY 2024 increased by 139 percent to Rs 176 crore. At the same time, the income has also doubled to Rs 236 crore. As of September 2024, the number of outstanding shares of the company is only 2 lakh, out of which 75 percent shares are with the promoter. On Tuesday, 241 shares were traded on BSE. At the same time, the average volume of 10 days is only 5.