Elitecon International Shares Surge 3150% Over Five Years Amid New Contract
Up 3150% in five years! Multibagger circuit-to-circuit stock hits upper circuit for third day in a row
Mint
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Elitecon International, a small-cap FMCG and tobacco company, saw its shares hit the upper circuit for the third consecutive day, rising 5% to ₹43.52 on the Bombay Stock Exchange. This surge follows the announcement of a ₹202 crore contract with South Africa's Bozza Tobacco for cigarette supply, contributing to a staggering 3150% increase in share value over the past five years.
- 01Elitecon International shares hit upper circuit for three days, rising 5% to ₹43.52.
- 02The company secured a ₹202 crore contract with Bozza Tobacco for cigarette supply.
- 03Despite recent gains, shares have fallen 57% year-to-date and 72% over the last six months.
- 04Elitecon International delivered multibagger returns of over 3,200% in the past five years.
- 05Trading volumes significantly increased, with 22 lakh shares exchanged on April 17.
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Elitecon International, a small-cap company operating in the FMCG and tobacco sectors, has experienced a notable surge in its share price, hitting the upper circuit for the third consecutive day. The stock rose by 5% to ₹43.52 on the Bombay Stock Exchange (BSE), buoyed by strong buying momentum and increased trading volumes, with 22 lakh shares traded on April 17. This rally follows the announcement of a significant ₹202 crore long-term supply contract with South Africa-based Bozza Tobacco (PTY) for various tobacco products, including cigarettes under several brand names. Despite this recent uptick, Elitecon's shares have faced challenges, having dropped over 18% in the past month and 57% year-to-date. However, the stock has shown remarkable growth over a five-year period, delivering multibagger returns of over 3,200%.
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The new contract may enhance Elitecon International's market position, potentially leading to increased revenue and job stability within the company.
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