52-Week High Alert: Multibagger Penny Stock Below Rs 80 Locked in Upper Circuit for 5th Consecutive Day; Board to Meet Today for Fund Raising
The stock has given multibagger returns of 6,882 per cent from its 52-week low of Rs 1.10 per share.
On Friday, shares of Godfrey Phillips India’s peer company, Elitecon International Ltd, hit a 5 per cent upper circuit to Rs 76.80 per share from its previous closing of Rs 73.15 per share. The stock also made a 52-week high of Rs 76.80 per share and its 52-week low is Rs 1.10 per share. The company is locked in the upper circuit for the 5th consecutive day.
Elitecon International Ltd has announced that a Board of Directors meeting will be held today, i.e., Friday, July 04, 2025, to discuss and potentially approve a proposal for raising funds up to Rs 75 crore. This fundraising initiative may utilise various methods, including preferential allotment, issuance of convertible warrants, Foreign Currency Convertible Bonds (FCCBs), Qualified Institutional Placement (QIP), or other permissible instruments/modes. The execution of any such fundraising will be contingent upon obtaining the necessary approvals from shareholders, regulatory bodies, and other relevant stakeholders, in compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
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Established in 1987, Elitecon International Ltd. (EIL) specialises in the manufacturing and trading of a diverse range of tobacco and allied products for both domestic and international markets. The company's product portfolio includes smoking mixtures, cigarettes, pouch khaini, zarda, flavoured molesis tobacco, yummy filter khaini, and other tobacco-based items. EIL has a notable international presence, operating in the UAE, Singapore, Hong Kong, and European countries like the UK, and plans to expand its offerings to include products such as chewing tobacco, snuff grinders, and match-related articles. The company also boasts its brands, including "Inhale" for cigarettes, "Al Noor" for sheesha, and "Gurh Gurh" for smoking mixtures.
According to consolidated Quarterly Results, the net sales increased by 232 per cent to Rs 313.16 crore and the net profit increased by 222 per cent to Rs 42.97 crore in Q4FY25 compared to Q4FY24. In its standalone annual results, the net sales increased by 424 per cent to Rs 297.51 crore and the net profit increased by 574 per cent to Rs 32.21 crore in FY25 compared to FY24. For the consolidated annual results (FY25), the company reported net sales of Rs 548.76 crore and net profit of Rs 69.65 crore.
Additionally, on Wednesday, June 25, 2025, Elitecon International Limited's shares have ex-traded a 1:10 stock split. This means each equity share with a face value of Rs 10 has been subdivided into ten equity shares, each now having a face value of Re 1.
The company has a market cap of Rs 12,276.48 crore. The stock has given multibagger returns of 6,882 per cent from its 52-week low of Rs 1.10 per share.
Disclaimer: The article is for informational purposes only and not investment advice.