Rs 1.3 lakh stock: Investment firm to declare dividend; shares down 60% in 6 months

ELCID Investments Ltd, which was the most costliest stock of Dalal Street just six months earlier, is set to announce dividend and financial results for the financial year 2025 next week. Despite a sharp correction in the stock price, EL CID continues to remain among the most priciest counters of Dalal Street.

The company board is set to meet on Wednesday, May 28 to consider and approve audited standalone and consolidated financial results of the company for the fourth quarter and financial year ended March 31, 2025, said EL CID Investments in the exchange filing.

"The company board may also recommend payment of final dividend for the financial year ended 31st March 2025," it said. The board shall meet at Jolie's, at Birla Centurion, Pandurang Budhkar Marg, Worli, Mumbai, Maharashtra, it added.

Shares of EL CID Investments settled mostly on a flat note near Rs 1.3 lakh mark. The stock was around Rs 3.32 lakh in November 2024, after the fair price discovery for the stock following a special call auction mechanism for a price discovery mandated by BSE in October 2024. EL CID became the most costly stock of the Indian stock market, pushing MRF Ltd back then.

The microcap counter was listed at Rs 2.25 lakh but soared nearly 50 per cent since relisting to Rs 3.32 lakh in November 2024. However, the stock has been under severe selling pressure since then to crack nearly 60 per cent from those levels. The current market capitalization of the company has crumbled below Rs 2,600 crore from Rs 4,500 crore.

Elcid Investments, with 2,00,000 share capital, holds 2,83,13,860 equity shares or 2.95 per cent stake in Asian Paints Ltd, which is worth nearly Rs 6,500 crore as of its previous close. The stock is commanding a holding company discount of nearly 60 per cent compared to its intrinsic value at Rs 3.26 lakh per share.