Shares of Elcid Investments, a non-banking financial company (NBFC), closed at ₹2,36,250 apiece on Tuesday, valuing the company at ₹4,725 crore. The share price of MRF, on the other hand, stood at ₹1,22,577, even though the company's market capitalisation was much higher at ₹51,890 crore.
Shares of Elcid were frozen at ₹3.21 apiece for the past one year with barely any sellers on the counter. But its share price soared following a special call auction session on Monday, started by the stock exchanges from this week in a bid to arrive at a fair price discovery of investment holding companies (holdcos).
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