Shares of cigarette and tobacco products manufacturer Elitecon International were locked in a 5 per cent upper circuit on Thursday, June 26, 2025 following an updated related to a fund raise. The counter opened gap up in the green at Rs 58.70, with a gain of 4.54 per cent from the previous close of Rs 56.15. The stock gained further to hit the upper circuit of Rs 58.95. Technically, the stock trades lower than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages. The 52-week high of the stock is Rs 62.96 and the 52-week low is Rs 1.10. The market cap of the company is Rs 9,415.17.
The scrip has been gaining for the last four days and has risen 19.36 per cent in this period.
Share Price History
The stock has given a multibagger return of 5,509 per cent in three years and 514 per cent in six months. It has already gained 467 per cent so far this year.
Company To Raise Funds
The company said in an exchange filing that its board of directors will meet on July 1, 2025 to raise funds of up to Rs 75 crore from the public markets via a preferential allotment.
“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,” the filing reads.
Meanwhile, equity benchmark indices Sensex and Nifty rallied in early trade on Thursday, taking their winning momentum to the third day running, amid optimism following a ceasefire between Iran and Israel.
The 30-share BSE Sensex climbed 163.27 points to 82,918.78 in early trade. The 50-share NSE Nifty went up 64.35 points to 25,309.10.
Later, the BSE benchmark traded 415.98 points higher at 83,171.49, and the Nifty quoted 115.50 points up at 25,359.45.
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
