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Most stocks on Dalal Street may be looked overvalued, but there is no dearth of underpriced stocks too! Among them, one is trading at a negligible price compared with its book value.
The current market price of the stock is Rs 14.74 on BSE. But in the unlisted space, where illiquid, delisted and rarest of rare stocks get traded unofficially at a premium, it trades at Rs 82,000-85,000, about 7,00,000 per cent premium to the CMP.
We are talking about a microcap company
Elcid Investments. Prima facie, it looks like a dud penny stock, with no investor willing to take a punt on it. The scrip has changed hands only 33 times since October 2016. In 2021, it was last traded on January 28, with a single share being traded.
NEW DELHI: Skipping a primary market offering, phonemaker Lava International is trying to raise funds via a rights issue, as it seeks to capitalise on the incentives being offered by the government to boost local manufacturing of electronics.
“The company’s board of directors in their meeting held on April 30, 2021 has accorded approval to the issue and allotment of equity shares by way of rights issues to the existing equity shareholders of the company as on April 23, 2021, the record dates, pursuant to 62(1)(a) and other applicable provisions of the Companies Act 2013, if any, read with the rules framed thereunder,” the company wrote to its equity shareholders.