Reported 26 days ago
Shares of Elcid Investments Ltd., a lesser-known Indian financial services firm, skyrocketed by 70,000% following a regulatory adjustment by the Securities and Exchange Board of India that allowed for special price discovery of thinly-traded companies. The stock surged from 3.53 rupees to 161,023 rupees, marking the largest single-day gain for any stock in India. Despite the remarkable increase, Elcid's shares still fall below their book value per share as of March 31, raising questions about liquidity and future trading dynamics.
Source: YAHOO