Multibagger stock crashes, wipes ₹2 lakh in 13 months; MRF reclaims the crown

Mumbai (The Uttam Hindu): Shares of Elcid Investment, which created history in the stock market, are now plummeting from the sky to the ground. This stock, which made investors millionaires overnight by rising from ₹3 to ₹3 lakh, has suffered a significant decline. In the past 13 months, the stock has fallen nearly ₹2 lakh from its high level.

Shares plummeted by 60%, causing panic among investors

Looking at the data, Alcid Investments' stock has fallen nearly 60% from its peak. In terms of price, it has lost a significant amount of ₹1,99,472.

During Thursday's trading session, this multibagger stock was trading at Rs 1,31,002, down by Rs 422. Due to the continuous decline, the market cap of the company has also come down to Rs 2,620 crore.

This penny stock stunned the market in 2024. Its price was just ₹3.53 on June 26, 2024, and rocketed to ₹3.30 lakh on November 8, 2024. Despite this significant decline, the stock still delivers a whopping 37,61,938% return compared to its June 2024 price.

MRF once again becomes the country's most expensive stock

The decline of Alcid Investments has once again placed tire manufacturer MRF in the number one position. When Alcid was at its peak, it had overtaken MRF. However, with Alcid's decline, MRF has once again become India's Most Expensive Stock.

MRF shares rose ₹1,300 on Thursday to trade at ₹153,305. Over the past year, MRF has returned approximately ₹26,000 per share to its investors.