Latest news with #EliteconInternational
Time of India
6 days ago
- Business
- Time of India
Microcap stocks defy market: 50 stocks rise over 200% amid selloff; analysts caution over poor earnings, bubble risk
Even as benchmark indices have struggled since the September 2024 selloff, a clutch of little-known microcap and penny stocks have delivered blockbuster returns, with at least 50 companies gaining over 200%—and some surging by as much as 5,500%, according to an Economic Times report. Leading the list is RRP Semiconductor, a Maharashtra-based firm whose shares skyrocketed from Rs 50.6 to Rs 2,833, translating into a 5,500% jump in under 11 months, according to an ET report. The company's market capitalisation rose from Rs 68.9 crore to Rs 3,858.5 crore, despite posting only Rs 32 crore in revenue and Rs 8.5 crore in net profit for FY25. Penny frenzy amid broader correction The meteoric rise in these counters comes at a time when broader indices have seen a correction. Since September 27, 2024, the Nifty Smallcap 250 and Nifty Midcap 150 indices are down 3% and 1.8%, respectively, while the Nifty Microcap 250 has fallen 4.8%. Among other top gainers are Elitecon International, Sumeet Industries, Vega Jewellers, Midwest Gold, Kothari Industrial Corporation, Arunis Abode, and Rajasthan Tube Manufacturing, with returns ranging from 1,000% to 4,800%. Top Performing Microcap & Penny Stocks Since Sept 27, 2024 (Figures in Rs crore) Company CMP (Rs) Current MCap (Rs cr) % Chg since Sept 27, '24 FY25 Revenue (Rs cr) FY25 PAT (Rs cr) RRP Semiconductor 2,833.0 3,858 5,500.9% 32.0 8.5 Elitecon International 144.7 23,130 4,723.0% 551.4 69.6 Sumeet Industries 125.5 66 2,977.0% 1,195.0 170.3 Vega Jewellers 145.2 138 2,868.3% 10.6 0.2 Midwest Gold 1,264.3 413 1,699.4% 1.1 -5.6 Kothari Industrial Corporation 418.2 3,920 1,443.7% 87.6 -16.2 Arunis Abode 464.2 139 1,229.9% 0.5 -0.2 Rajasthan Tube Mfg Co 42.5 192 1,059.1% 56.4 0.5 Stellant Securities (India) 367.9 27 757.0% 1.9 1.3 IMEC Services 149.6 28 719.5% 28.8 25.4 Source: ET report However, ET reported that 12 of the 50 stocks had reported net losses in FY25, and 19 had revenues below Rs 10 crore—raising concerns over fundamental weakness despite massive market cap expansion. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Studio & 1 BHK at ACE Nest – Book with ₹5 Lacs Only! Ace Noida Book Now Undo 'Mini-bubble' fears as Sebi caution still looms Experts are warning retail investors to tread cautiously. 'One could say that it is a mini-bubble in a group of penny stocks, and one should be extremely careful not to get trapped with their core investment corpus in such stocks,' said Vikas Gupta, CEO, OmniScience Capital. He noted that many traders are lured in by rumours of asset monetisation or future business potential, often unsupported by operational strength. 'Sebi had cautioned investors last year about price manipulation in SME and microcap counters, and those risks haven't gone away,' said Apurva Sheth, Head of Research, Samco Securities. Sheth added that only 8 of the 50 stocks had a PE ratio between 0–50 and market cap-to-sales ratio below five—basic screens to assess a stock's fundamental viability. 'Most of the stocks from SME or microcap space have low corporate governance standards and no institutional ownership, thus investors would be better off staying away from them,' he said. Gupta echoed the caution 'Yes, there can be exceptions, but are you expert enough to understand the exceptions? If not, stay away from such stocks.' Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
India.com
21-07-2025
- Business
- India.com
This FMCG stock in action today as board to meet consider fund raising via QIP
1 लाख के निवेश पर 10 लाख का फायदा Elitecon International, a smallcap stock, achieved a significant milestone on Monday, July 21, 2025, by hitting a fresh 52-week high. This remarkable feat was accomplished amidst a highly volatile stock market in the early trade. The stock opened with a gain of 5 per cent today, starting the trading session at Rs 131.25, the upper circuit of the counter. This surge in stock value is a testament to the company's resilience and potential. The market cap of the company is Rs 20.980 crore, and the scrip has been on an upward trajectory for the last 21 days, marking a rise of 165.74 per cent in the period. Technically, it trades higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages, indicating a strong performance. Company Plans To Raise Funds Via QIP The company has informed exchanges about its strategic move to raise capital. The board of directors is set to convene to discuss and approve the raising of capital by issuing equity shares via a Qualified Institutions Placement (QIP) valued at Rs 300 crores on Friday, July 25. This proactive step demonstrates the company's commitment to its growth and development. 'Raising of funds by issue of Equity Shares through Qualified Institutions Placement ('QIP') for an aggregate amount up to Rs.300,00,00,000/- (Rupees Three Hundred Crores) (inclusive of such premium or discount as may be fixed on such Equity Shares) subject to the receipt of approval of the Members of the Company and such other approval(s)/permission(s)/ consent(s)/ sanction(s) of any government/regulatory/ statutory authorities, as may be required,' the company said in an exchange filing. Share Price History According to BSE Analytics, Elitecon International's stock has been a standout performer, delivering a multibagger return of 1165.67 per cent so far this year. In six months, the counter has surged by 881 per cent, and in three months, it has seen a remarkable increase of 246 per cent. This detailed stock price history provides a comprehensive view of the company's stock performance, empowering the audience with valuable insights. Market Remains Volatile Meanwhile, equity benchmark indices Sensex and Nifty dropped in early trade on Monday. However, they rebounded amid buying in the blue-chip stocks ICICI Bank and HDFC Bank. The 30-share BSE Sensex declined 148.68 points to 81,609.05 in early trade despite a positive start. The 50-share NSE Nifty dropped 67.55 points to 24,900.85. Later, both the benchmark indices bounced back and were trading in the green. The BSE benchmark quoted 181.30 points higher at 81,944.67, and the Nifty traded 36.75 points up at 25,009.10.
Mint
19-07-2025
- Business
- Mint
1105% rally in YTD! Small-cap multibagger stock to be in focus on Monday; here's why
Small-cap multibagger stock: Shares of Elitecon International will be in focus on Monday, July 21, as the company in its filing said that board of directors is set to convene to discuss and approve the raising of capital by issuing equity shares via a Qualified Institutions Placement (QIP) valued at ₹ 300 crores on Friday, July 25. 'Raising of funds by issue of equity shares through QIP for an aggregate amount up to ₹ 300,00,00,000 subject to the receipt of approval of the members of the company and such other approval(s)/ permission(s)/ consent(s)/ sanction(s) of any government/regulatory/ statutory authorities, as may be required,' said the firm. Over the last month, Elitecon International has demonstrated exceptional performance, registering an impressive rise of 128.44%, greatly surpassing the Sensex, which has only increased by 0.38% during this time. Year-to-date, the stock has skyrocketed by an incredible 1105.40%, while the Sensex has only seen a rise of 4.14%. On Friday, July 18, Elitecon International share price closed 4.95% higher at ₹ 125 apiece on the BSE. Recently, the company announced that the board reviewed the current status of the proposed acquisition of 100% equity shares of Prime Place Spices Trading LLC from its sole shareholder, Mr. Santosh Sharma, as previously authorized. Based on insights from the ongoing legal and financial due diligence conducted by both internal and external teams, the Board has pinpointed several significant gaps and outstanding issues that substantially affect the transaction's viability. The board has set a deadline of August 16, 2025, for the target entity to address and present the required explanations/documents to the board's satisfaction in order to continue discussions about the acquisition of the target company. If this is not accomplished, the proposed transaction will be considered closed. Elitecon Intl. specialises in the production and sale of various tobacco products, including cigarettes and smoking supplies, as well as any other goods typically offered by tobacconists. At present, the Company operates in international markets including the UAE, Singapore, Hong Kong, and various European nations such as the UK, with intentions to expand its product line to include chewing tobacco, snuff grinders, lighting matches, match boxes, pipes, and other related items. The Company has introduced brands like Inhale in the cigarette sector, Al Noor in the sheesha category, and Gurh Gurh in the smoking mixture range. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
India.com
17-07-2025
- Business
- India.com
THIS company hits upper circuit, shares update on proposed acquisition
25 महीने में करोड़पति बन गए निवेशक Shares of Elitecon International, a fast-moving consumer goods (FMCG) company, continued their upward trajectory on Thursday, July 17, 2025. This was a remarkable feat, considering the market's volatility due to fresh foreign fund outflows. The counter opened with a significant gain of 5 per cent today at Rs 119.11, a clear indication of the company's resilience. This also marks a fresh 52-week high for the company, a testament to its strong performance even in challenging market conditions. Company Shares Update On Proposed Acquisition On a different note, the company has made a strategic decision regarding its proposed acquisition. In a recent filing to the exchanges, the company's board has decided to put the acquisition of 100 per cent equity shares of Prime Place Spices Trading LLC on hold. This decision, which renders the earlier signed Share Purchase Agreement and related documents null and void, is a clear indication of the company's careful and informed approach to its business dealings. Share Price History According to BSE Analytics, Elitecon International's stock has delivered an outstanding return of 1,048 per cent so far this year, and an impressive 808 per cent in the past six months. This exceptional performance is a testament to the company's strong market position and its ability to generate high returns for its investors. Meanwhile, the BSE has placed the stock under the Short Term Additional Surveillance Measure Stage 4 (ST ASM-4) framework. This measure, which is implemented to [explain the purpose of the measure], could potentially [describe the potential impact on the stock's trading]. Stock Market Today Equity benchmark indices Sensex and Nifty started the day on a firm note on Thursday but later faced selling pressure, with investors remaining in a wait-and-watch mode, as hopes are pinned on a favourable outcome from the US-India trade talks. Fresh foreign fund outflows also dented investors' sentiment as they preferred staying on the sidelines. The 30-share BSE Sensex climbed 119.05 points to 82,753.53 in opening trade. The 50-share NSE Nifty went up by 18.7 points to 25,230.75. However, later the BSE benchmark quoted 71.51 points lower at 82,554.47, and the Nifty traded 30.30 points down at 25,182.55.
Mint
17-07-2025
- Business
- Mint
Multibagger small-cap stock hits upper circuit despite rising 10,700% in one year. Do you own?
Elitecon International share price hit the upper circuit on Thursday, touching a new 52-week high amid sustained buying interest. The small-cap stock rose 5% to a fresh peak of ₹ 119.11 apiece on the BSE. Notably, Elitecon International stock price has locked in the upper circuit in eighteen out of the last nineteen trading sessions, reflecting strong bullish momentum. The latest gains in Elitecon International share price comes after the company announced that its board of directors have put on hold the proposed acquisition of Prime Place Spices Trading LLC. Elitecon International board, at its meeting held on Wednesday, July 16, 2025, discussed the status of the proposed acquisition of 100% equity shares of Prime Place Spices Trading LLC from its sole shareholder Santosh Sharma, as previously approved. 'Based on the findings from the ongoing legal and financial due diligence process through the internal and external team, the Board has identified several critical gaps and unresolved concerns that materially impact the viability of the transaction,' Elitecon International said in a regulatory filing on July 16. These include serious issues related to the integrity and verifiability of major key financial metrics, asset quality and supporting documentation, all of which are essential for a transaction of this nature, it added. Despite multiple follow-ups, the company said the required information has not been satisfactorily provided. 'As a result, the Board has resolved to place the proposed acquisition on hold and the earlier signed Share Purchase Agreement along with related documents shall be considered null and void. The transaction may be reconsidered in the future upon receipt and satisfactory review of all necessary clarifications and supporting records,' said the company. The deferment shall be effective immediately and shall stay in place until satisfactory and verifiable resolution or documents or information is submitted and evaluated, it added. Consequently, the company has also cancelled the Extra Ordinary General Meeting (EGM) scheduled to be held on August 06, 2025, to seek approval from the members of the company for the said acquisition. Moreover, the company's board has given a deadline of August 16, 2025, to the target entity to resolve and submit necessary explanations/ documents to the satisfaction of the Board in order to reinitiate the discussion regarding the acquisitions of the Target Company failing which the proposed transaction shall be deemed to be closed, it added. Elitecon International share price has delivered exceptional returns across multiple timeframes. The small-cap stock has surged 107% over the past month and 208% in the last three months. Over a six-month period, Elitecon International shares have generated multibagger returns of 808%, while delivering a remarkable year-to-date (YTD) gain of 1,050%. Notably, the small-cap stock has skyrocketed 11,800% over the past five years. At 12:50 PM, Elitecon International share price was still locked at 5% upper circuit of ₹ 119.11 apiece on the BSE. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
