Shares of this BSE-listed company hits fresh 52-week high today
Shares of BSE-listed Elitecon International surged 5 percent in Wednesday's trading session to hit an upper circuit of Rs 518.05. The upper circuit is a regulatory mechanism that restricts the upward movement of a stock's price, preventing it from being traded at a price higher than the circuit limit. The counter opened gap up at Rs 516.85 with a gain of 4.75 percent from the previous close of Rs 493.40.
The momentum continued amid buying, and the stock hit an upper circuit of Rs 518.05 – also the fresh 52-week high. The 52-week low of the stock is Rs 11.02. The market cap of the company is Rs 8,281.03 crore. The scrip is trading higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages
The stock has been gaining for the last seven days, indicating a strong bullish trend in the market. It has surged 42.48 per cent in this period, which is a significant increase in a short span of time. Q4 Results
Elitecon International's stock has been on a positive trajectory ever since the company announced its robust Q4 results. This strong performance may reassure investors about the company's financial health and future prospects.
The company reported a 94 per cent YoY increase in net profit to Rs 12.21 crore. The net profit of the company in the same quarter a year ago was Rs 6.30 crore.
Share Price History
According to BSE Analytics, the scrip has given a solid return of 627 per cent in six months and nearly 400 per cent on a YTD (year-to-date) basis.
The company's sales saw a remarkable growth of 170 per cent, reaching Rs 120.41 crore in the quarter under review. This significant increase, compared to Rs 44.49 crore in the March 2024 quarter, may inspire optimism about the company's future performance. Stock Market Today
Meanwhile, benchmark stock indices rebounded in early trade after three days of decline tracking a rally in global markets.
The 30-share BSE Sensex climbed 230.17 points to 80,967.68 in early trade. The NSE Nifty went up by 70.
25 points to 24,612.75.
From the Sensex firms, Bharti Airtel, Eternal, IndusInd Bank, Maruti, Tata Motors and Bajaj Finance were the major gainers.
However, Tata Consultancy Services, UltraTech Cement, Titan and ICICI Bank were among the laggards.
In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng were trading significantly higher.
With PTI inputs
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
30 minutes ago
- Economic Times
Smartworks Coworking IPO GMP at 4.7% on Day 3. Check subscription status, other details
Reliance Infrastructure shares saw a surge after India Ratings upgraded its credit rating. The rating moved up three notches, removing the 'Default' classification after six years. This upgrade reflects the company's significant debt reduction. Reliance Infra now reports near-zero debt with banks and financial institutions. The stock has shown substantial gains over the past year. Tired of too many ads? Remove Ads Smartworks Coworking Spaces IPO details Tired of too many ads? Remove Ads Use of funds According to the filing, proceeds from the IPO will be utilized as follows: Rs 225.8 crore for fit-outs and security deposits at new centres Rs 114 crore for debt repayment The remainder will be allocated towards general corporate purposes Smartworks Coworking Spaces profile Smartworks Coworking Spaces financials Tired of too many ads? Remove Ads Analyst recommendations Opinions remain divided among brokerage houses: Anand Rathi assigned a 'Subscribe – Long Term' rating, highlighting that at the upper price band, the company's valuation stands at a price-to-sales (P/S) ratio of 3.3x and an enterprise value-to-EBITDA (EV/EBITDA) multiple of 9.7x, post issue market capitalization pegged at Rs 4,644.8 crore. SBI Securities, however, issued an 'Avoid' recommendation, citing stronger alternatives like Awfis Space Solutions, which is profitable and trades at a significantly higher FY25 EV/Adj. EBITDA multiple of 26.5x. Bajaj Broking recommended a 'Subscribe for Long-Term', citing Smartworks' leadership position and focus on long-term contracts with multinational clients. The brokerage noted that while the company has posted positive cash EBITDA, reported losses are driven by provisions under accounting standards like Ind AS 116, which recognize lease liabilities as fixed costs, inflating interest and depreciation expenses. Book running lead managers Shares of Smartworks Coworking Spaces are witnessing strong demand in the grey market, trading at a premium of 4.7% (around Rs 19-20) over the issue price on the last day of its Friday, the second day of the offer, the issue was subscribed by 1.15 times, with non-institutional investors (NIIs) in the lead with 1.79 times subscription, followed by the retail investors who subscribed to the issue by 1.18 qualified institutional buyers subscribed to the issue by 63%.Smartworks Coworking Spaces aims to raise Rs 576-583 crore through a mix of fresh issue and offer-for-sale (OFS). The IPO, open for subscription until July 14, is slated to list on both BSE and NSE on July issue comprises a fresh equity issue of Rs 445 crore and an offer for sale (OFS) of 33.79 lakh company has set a price band of Rs 387–407 per share, with a Rs 37 per share discount offered to employees. Investors can bid in lots of 36 shares and in multiples in 2015, Smartworks Coworking Spaces is India's largest managed workspace provider by leased area, operating over 8.99 million sq ft across 50 centres in 15 Indian cities as of March 31, 2025. The company also has two centres operational in Singapore. It primarily caters to mid-to-large enterprises in sectors like IT, BFSI, and company operates primarily on a straight lease model, but is gradually shifting towards variable rental agreements to improve cost business model revolves around providing customized managed office spaces with technology-driven services, aesthetic design, and enterprise-focused amenities. The firm also offers value-added services such as wellness zones, convenience stores, and design-build (FaaS) company has demonstrated strong revenue growth, with operating revenue surging from Rs 711.39 crore in FY23 to Rs 1,374.05 crore in FY25. Its EBITDA improved to Rs 857.26 crore during FY25. However, despite improving margins, the company remains loss-making, posting a net loss of Rs 63.17 crore for of March 2025, Smartworks reported an occupancy rate of 83.1%, catering to 738 enterprise clients across its facilities, with a total seating capacity exceeding 2 lakh. JM Financial , BOB Capital Markets, IIFL Securities , and Kotak Mahindra Capital are managing the public issue.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
&w=3840&q=100)
Business Standard
38 minutes ago
- Business Standard
Laxmi Dental share price rises 3%; Motilal Oswal initiates 'Buy'; check TP
Laxmi Dental share price rose 3.2 per cent in trade on Monday, logging an intraday high at ₹441.6 per share on BSE. At 9:27 AM, Laxmi Dental shares were trading higher by 2.2 per cent at ₹437.2 per share on the BSE. In comparison, the BSE Sensex was down 0.16 per cent at 82,369.42. The company's market capitalisation stood at ₹2,372.72 crore. The 52-week high of the stock was at ₹583.7 per share and the 52-week low of the stock was at ₹307.55 per share. Motilal Oswal initiates 'Buy' From the previous close at ₹427.8 per share, domestic brokerage Motilal Oswal sees a 26 per cent upside. The brokerage has initiated a 'Buy' and setting the target price at ₹540 per share. The brokerage cites supportive industry trends and the company's strong potential for sustained growth, assigning a 43x 12-month forward earnings multiple. Why is Motilal Oswal upbeat on Laxmi Dental? Over FY22–25, Laxmi Dental's revenue grew from ₹140 crore to ₹240 crore, while Earnings before interest, tax, depreciation and amortisation (Ebitda) margins expanded from 4 per cent to 17.5 per cent. Net profit for FY25 stood at ₹262 crore, recovering from a loss in FY22. Motilal Oswal projects a 24 per cent revenue compound annual growth rate (CAGR), 48 per cent Ebitda CAGR, and 62 per cent profit after tax (PAT) CAGR over FY25–27, driven by strong traction across its three core verticals—custom labs, clear aligners, and pediatric dental products. Track Stock Market LIVE Updates Segment-wise growth Lab business: The lab segment contributes 62 per cent of the company's total revenue. Motilal expects this vertical to grow at a 21 per cent CAGR through FY27, driven by rising adoption of digital dentistry, a shift towards premium metal-free crowns, and outsourcing by US-based dental labs to India. Clear aligners: Laxmi Dental is the only aligner company in India that is fully vertically integrated, having end-to-end capabilities from raw material to distribution. Further, the company's launch of clear aligners under the brand 'Illusion Aligners', was the first Indian brand to receive 510(k) clearance from the United States Food and Drugs Administration (US FDA) in CY21 to market clear aligners. This segment is forecasted to grow at a 33 per cent CAGR, reaching ₹140 crore in revenue by FY27. Pediatric dental products: Motilal Oswal projects this niche segment to grow a 31 per cent CAGR, reaching ₹44.9 crore by FY27. As Laxmi Dental is India's only manufacturer of US FDA-cleared Silver Diamine Fluoride (SDF) and developer of the patented Bioflx zirconia crowns, the company is expected to benefit from the segment growth. Laxmi Dental listing The stock listed on bourses on January 20, 2025. On the National Stock Exchange (NSE), Laxmi Dental IPO listing price was ₹542 per share, reflecting a listing gain of 26.6 per cent or ₹114, as against the issue price of ₹428. Similarly, on the BSE, Laxmi Dental shares listed at ₹528 apiece, commanding a premium of 23.3 per cent or ₹100, as compared to its initial public offering (IPO) issue price.
&w=3840&q=100)
Business Standard
38 minutes ago
- Business Standard
Q1 results today: HCL, Ola, Tata Tech among 25 firms on July 14; see list
Q1 FY26 company results: Tejas Networks, Nelco, Rallis India, and Sambhv Steel Tubes will release their earnings report for the April-June quarter New Delhi HCL Technologies, Ola Electric, and Tata Technologies will be among 25 companies to release their earnings report for the first quarter (Q1) of the financial year 2025-26 (FY26). Other companies releasing their performance report for the April-June quarter include Tejas Networks, Nelco, Rallis India, and Sambhv Steel Tubes. HCL Tech Q1 preview HCL Technologies is expected to report a slight dip in both revenue and net profit for the first quarter, largely due to seasonal weakness and slower performance in its services and products segments. Analysts polled by Business Standard estimate a marginal 0.02 per cent quarter-on-quarter decline in revenue to ₹30,240.28 crore. Net profit is projected to drop by 3.76 per cent sequentially to ₹4,145.13 crore, and by 2.65 per cent year-on-year. The decline is attributed to seasonal productivity resets and pressure on the services business, which is also likely to impact the company's profit margins. Market overview July 14 Indian equity benchmark indices closed lower on Friday, July 1, following a largely range-bound week, as investor sentiment weakened due to disappointing earnings from Tata Consultancy Services (TCS). The IT major's weaker-than-expected Q1 results triggered a sell-off in technology stocks. Additionally, escalating global trade tensions weighed on markets after US President Donald Trump imposed fresh tariffs on Canadian imports. The BSE Sensex declined by 689.81 points or 0.83 per cent to close at 82,500.47, while the Nifty50 fell 205.4 points or 0.81 per cent to settle at 25,149.85. Broader markets also ended in the red, with the Nifty MidCap index down 0.88 per cent and the Nifty SmallCap index slipping 1.02 per cent. Today, July 14, markets are expected to open on a cautious note, influenced by both domestic and global factors. Key triggers include India's June inflation data (CPI and WPI), HCLTech's Q1 earnings, and developments in the global trade landscape, particularly following Trump's 30 per cent tariffs on the European Union and Mexico. Additionally, investors will watch for China's June trade data, trends in institutional investments, and activity in the primary market. Broader global cues also remain weak. List of firms releasing Q1 FY26 results on July 14 Authum Investment & Infrastructure Ltd Benares Hotels Ltd Citadel Realty and Developers Ltd Den Networks Ltd Essar Projects India Ltd G G Auto Products Ltd Gowrishankar Commercial Ltd GSB Finance Ltd Hathway Cable & Datacom Ltd HCL Technologies Ltd Inderjit Good & Co Ltd Infomedia Press Ltd Kesoram Industries Ltd Kiranshya Finance & Leasing Ltd Nelco Ltd Ola Electric Rallis India Ltd RGF Ltd Royal Industries Ltd Sambhv Steel Tubes Ltd Sharp Investments Ltd Space Incubation Ltd SS Worldwide Logistics Ltd Tata Technologies Ltd Tejas Networks Ltd
