India 'Copper Shares' surged 66,925 times a day to 53 won → 4.07 million won
Nov 01, 2024
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According to local media such as Hindustan Times, the closing price of investment service company 'Elcid Investments' on October 31 (local time) was 248,062 rupees (about 4.07 million won). This is a 77,277 times jump compared to 3.21 rupees (about 53 won) in July. On the 29th, when the transaction began, it jumped about 66,925 times in one day alone. It was also nicknamed the `God's Stock' as the world's highest record. India's most expensive stock price also took up at once. Its market capitalization reached 5201 billion rupees (about 8.5296 trillion won).
Initially, Elseid Investments was recognized as a cheap 'coins'. There was also little trading volume. The number of shareholders is only 328.
Then, it soared after the BSE (Bombay Stock Exchange) auction for a price offering of a holding company on the 29th.
The Indian Stock Exchange conducted a special call auction session with no price limit to reduce undervaluation of investment holding companies and promote fair price discovery.
Indian investors believe the policy has sent them soaring.
In addition, Elseed Investments is a so-called 'real company' which holds a 2.95% stake in multinational paint company 'Asian Paint' in Mumbai.
The stake is valued at 85 billion rupees (about 1.4 trillion won).
bellho@sportschosun.com
