In a remarkable turn of events, a stock listed on the Bombay Stock Exchange in Mumbai has witnessed an extraordinary increase of 66,925,535% in a single day, capturing widespread attention. The stock in question belongs to the relatively obscure company, LCD Investments, which has now become the most valuable stock in India.
While stock price increases are not uncommon in a thriving market, the scale of this particular rise is almost unimaginable. The staggering growth has left both young and seasoned investors astounded.
According to a report by the Economic Times, LCD Investments had previously traded only once in 2024, with a mere 500 shares exchanging hands on June 21 at a price of ₹3.53 per share. However, just yesterday, these shares were sold at an astonishing ₹236,250 each, with only 241 shares traded. This dramatic spike in price is unprecedented, as it represents a staggering 66,925,535% increase within a single day.
The new price has surpassed even that of MRF, which is known for its high stock valuation, with each share priced at ₹120,000. This raises the question: how could a stock increase by such an extraordinary percentage in a single day, particularly when there are mechanisms in place to limit excessive price surges in the market?
The catalyst for this unprecedented price increase can be traced back to a decision by the Securities and Exchange Board of India (SEBI). The regulatory body mandated stock exchanges to conduct a special trading session aimed at determining the true value of shares. As a result, the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) organized a special auction session this week, in which there was no upper limit on the pricing for holding companies. This initiative was intended to enhance market liquidity and ascertain the accurate valuations of these companies.
LCD Investments was previously a company that saw minimal trading activity, often selling at prices significantly below its book value. Consequently, the special trading session facilitated the discovery of a new, inflated price, marking a record increase in stock valuation within a single day in India.
Following the limited trading activity yesterday, there has been virtually no trading of LCD shares today.
