319% return in 1 year: FMCG stock in focus as company expands investment and loan limits, details
The stock's 14-day relative strength index (RSI) is 25.62. For the uninitiated, a level above 70 is considered overbought or overvalued, and below 30 is defined as oversold or undervalued.
Shares of FMCG company Elitecon International Limited are on investors' radar as the company has secured shareholder approval for a significant expansion of its financial capabilities. According to the information shared with exchanges, authorising a substantial increase in borrowing limits up to Rs 500 crore under Section 180(1)(c) of the Companies Act, 2013. The stock started today's session in the red amid market volatility. The counter opened at Rs 65 against the previous close of Rs 65.19. It later touched the intraday high of Rs 65.18 and low of Rs 61.94. Last seen, the stock was trading at Rs 61.94 with a fall of 4.99 per cent and the market cap of the company stood at Rs 9,901.11 crore.
The stock has been losing for the last three days and has fallen 14.13 per cent in the period. Technically, it trades lower than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.
Meanwhile, the BSE has placed the stock under the Short Term Additional Surveillance Measure Stage 3 (ST ASM-3) framework.
The stock's 14-day relative strength index (RSI) is 25.62. For the uninitiated, a level above 70 is considered overbought or overvalued, and below 30 is defined as oversold or undervalued.
Share price history
According to BSE Analytics, the stock has delivered a return of 319.93 per cent in one year and 5799.05 per cent in three year. However, it has corrected 39.54 per cent on a year-to-date (YTD) basis as against the dip of 2.54 per cent in the benchmark index.
Stock market today
Benchmark equity indices Sensex and Nifty declined in early trade on Thursday after a two-day rally as investors turned cautious ahead of the Union Budget presentation on Sunday.
The 30-share BSE Sensex dropped 343.67 points to 82,001.01 during initial trade. The 50-share NSE Nifty edged lower by 94.2 points to 25,248.55.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)