Latest news with #EliteconInternationalLimited
Mint
10-07-2025
- Business
- Mint
Multibagger small-cap stock hits upper circuit despite weak Indian stock market; here's why
Stock Market Today: Multibagger small-cap stock hit upper circuit during intraday trades on Thursday despite a weak Indian stock market. This followed an announcement of the acquisition update of an overseas business entity, Elitecon International Limited. Multibagger small-cap stock ELITECON INTERNATIONAL Ltd. announced the outcome of the board meeting held on 9 July 2025. The Board of Directors of Elitecon International considered and approved the acquisition of an overseas business entity. Elitecon International, in its release on the BSE, or the Bombay Stock Exchange, and the Calcutta Stock Exchange, announced the approval by its board regarding the acquisition of an overseas business entity. Elitecon International is set to acquire Prime Place Spices Trading L.L.C. The entity is engaged in trading spices, nuts, coffee, tea, confectionary, and chocolate. The target entity, Prime Place Spices Trading L.L.C., has achieved a turnover of United Arab Emirates Dirham (AED) 160.15 million as of December 31, 2024, as per Elitecon International. The acquisition would not fall within a related party transaction, as clarified by Elitecon International, and its promoter or promoter group or group companies did not have any interest in the entity being acquired. The main objective or reason of acquisition by Elitecon International Limited is that it has already established its presence in the Fast-Moving Consumer Goods ('FMCG') segment within the domestic market, specifically in the Agro commodities sector. Further, Elitecon International is now exploring opportunities to expand into similar lines of business in international markets. The Target Entity Prime Place Spices Trading L.L.C is a strategically aligned acquisition candidate as per Elitecon International, with a strong and established presence in the Fast Moving Consumer Goods sector in Dubai, which is a key global trading hub. Elitecon International said that this acquisition would position the company as a global player in the FMCG space, complementing its existing focus on agro commodities while offering significant potential for diversification into other product segments. On Thursday, the share price of Elitecon International opened at ₹ 93.34 on the BSE. The share price of Elitecon International was up 5% at the time of opening compared to the closing price of ₹ 89.90 the day before. The share price was locked in the upper circuit since the 5% price band is likewise the upper price band for the Elitecon International share. The share price of Elitecon International also reached its 52-week, or one-year, peak as it reached the ₹ 93.34 mark. Elitecon International share price having risen 8385% in a year has given multibagger returns to the investors. Disclaimer: The views and recommendations made above are those of individual analysts or brokerage companies and not of Mint. We advise investors to check with certified experts before making any investment decisions.
News18
06-07-2025
- Business
- News18
10x Stock Split, 6,800% Rally: Multibagger Stock To Consider Rs 300 Fund Raise, Acquisition
Last Updated: The company will hold a Board meeting on July 9, 2025, to consider raising Rs 300 crore via QIP and acquiring an international entity. Multibagger Stock: Elitecon International Limited will hold a meeting of its Board of Directors on Wednesday, July 9, 2025 to consider the fund raise of Rs 300 crore through Qualified Institutions Placement (QIP) and the acquisition of an international business entity. The Board will also consider issuing equity shares on a preferential basis. Funds raised through QIP route are expected to support the company's expansion initiatives, including the proposed overseas acquisition. Elitecon International has a market cap of Rs 12,276 crore. Elitecon International Financials For the fiscal year 2024-25, Elitecon International Limited reported a revenue of Rs 297.51 crores, with quarterly figures standing at Rs 120.41 crores for March 2025 and Rs 48.40 crores for December 2024. The net profit for the year reached Rs 32.21 crores, including Rs 12.21 crores in March 2025 and Rs 6.62 crores in December 2024. The earnings per share (EPS) were Rs 8.09 for FY24-25, with Rs 0.77 in March 2025 and Rs 54.72 in December 2024. The cash EPS was Rs 2.13 for the fiscal year, while it stood at Rs 0.80 in March 2025 and Rs 57.74 in December 2024. Elitecon International Share Price History Elitecon International Ltd., a company incorporated in 1987 and operating in the tobacco and allied products sector, has experienced significant volatility and growth in its share price over recent years, transforming from a penny stock to a multibagger. Elitecon International shares have given a whopping return of 6,881 per cent to investors as per Google Finance. The stocks are up from Rs 10.37 to Rs 76.80 apiece during the time being. Looking at the past five sessions, shares hit the 5% upper circuit for several times to gain 33 per cent. Elitecon International Stock Split Elitecon International executed a significant 10:1 stock split with the record date set for June 25, 2025. This corporate action involved subdividing each equity share with a face value of Rs 10 into 10 equity shares with a face value of Rs 1 each. The stock split was approved during a board meeting on May 15, 2025, alongside discussions on fundraising and potential overseas acquisitions, signaling the company's strategic efforts to enhance shareholder value and market accessibility. First Published:
Mint
25-06-2025
- Business
- Mint
5,000% rally in one year! Multibagger small-cap stock to be in focus on Thursday after fundraise move
Multibagger small-cap stock: Elitecon International Limited's board of directors announced on Wednesday, 25 June 2025, that the company is set to raise ₹ 75 crore from the public markets via a preferential allotment, according to an exchange filing. Stock market investors will focus on the company's shares on Thursday, 26 June 2025. According to the BSE filing data, the company will use preferential allotment, the issue of convertible warrants, foreign currency convertible bonds (FCCBs), Qualified Institutional Placement (QIP), or any other permissible instruments for the fundraising plan. 'To discuss and evaluate the proposal for raising funds up to an amount of ₹ 75 crores by way of preferential allotment, issue of convertible warrants, Foreign Currency Convertible Bonds (FCCBs), Qualified Institutional Placement (QIP) or any other permissible instruments/modes, subject to necessary approvals from Shareholders, regulatory bodies and other stakeholders,' said Elitecon International in its exchange filing. Elitecon International is a tobacco manufacturer which supplies multiple products like smoking mixture, cigarettes, and flavoured molesis tobacco, among other tobacco products for both domestic and international markets. Elitecon International shares closed 4.95 per cent higher at ₹ 56.15 after Wednesday's stock market session, compared to ₹ 53.50 in the previous market close. The company announced the fundraising plans after market operating hours on 25 June 2025. Shares of the tobacco product maker have given stock market investors more than 4,000 per cent returns on investment in the last five years, and 5,004.55 per cent in the last one-year period. On a year-to-date (YTD) basis, the shares of Elitecon International are trading 441.47 per cent higher in 2025 and 52.46 per cent higher in the last one-month period. Elitecon International shares hit their 52-week high level at ₹ 62.96 on 10 June 2025, while the 52-week low level was at ₹ 1.10 on 26 August 2024, according to BSE data. The shares are trading lower than their year-high levels. The company's market capitalisation (M-Cap) was at ₹ 8,975.58 crore as of the stock market close on Wednesday, 25 June 2025. Read all stories by Anubhav Mukherjee Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
