When 24 -hour millionaire shares were made, now came from Rs 17 at Rs 6

News India Live, Digital Desk: Elcid Investments: The world of the stock market is always unpredictable, where a millionaire can become a millionaire in a day, then the next moment can also suffer a big loss. Something similar has happened with a company named Elcid Investments Limited. This is the same stock that once made investors a millionaire overnight, but now it has broken badly, its shares have declined by more than 60 percent in the same session.

ELCID investments journey to become ‘millionaire’

Let’s talk first of that golden era when Elcid Investments came into the discussion. On 13 December 2021, the price of a share of this company was just 3 rupees 96 paise. But the very next day, that is, on 14 December 2021, this stock touched the sky and reached 333 rupees 60 paise! This one day’s lead made it an example in the history of the Indian stock market. It had given a bumper return of about 8,300 percent to its investors in less than 24 hours, that is, if someone had invested Rs 1 lakh in this stock, he would have become a millionaire in a few hours. According to reports, this company also belongs to shareholding in large chemical companies like Asian Paints and some group companies, which led to a lot of jump in the demand for its shares.

Current decline: shine faded

But today, the situation is completely different. On 29 May 2024, Elcid Investments shares opened with a heavy fall. At the start of the business, this stock was at Rs 175 paise and went up to 20 rupees 30 paise in early trade of the day. But shortly after, it fell sharply and it closed at 6 rupees 30 paise on the lower circuit. In this way, it recorded a decline of more than 64 percent as compared to the previous off (Rs 17.65).

Elcid Investments Limited is an investment company that invests in listed and non-unlisted companies. But this recent huge collapse of this once again reminds that the risk in the stock market is always present and the expectations of too much returns can sometimes turn into big losses.

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