Shares of Elitecon International Limited, a leading diversified FMCG enterprise, are in action as benchmark indices Sensex and Nifty rallied in early trade on Wednesday, building on gains of the past two trading sessions, amid a drop in crude oil prices and a firm trend in global peers. The counter started the trading session in the green at Rs 53.53, up from the previous close of Rs 53.18 on the BSE. The stock gained further to touch the high of Rs 55.83 and locked in a 5 per cent upper circuit. The market cap of the company stood at Rs 8,919.63 crore. The stock’s 52-week low is Rs 422.65, touched on August 25, 2026, and its 52-week low is Rs 27.66.
Technically, the stock trades higher than the 5-day moving averages but lower than the 20-day, 50-day, 100-day and 200-day moving averages. Moreover, the stock has outperformed the sector by 2.8 per cent.
Relative strength index
The stock’s 14-day relative strength index (RSI) is 36.97. For the uninitiated, a level above 70 is considered overbought or overvalued, and below 30 is defined as oversold or undervalued.
Meanwhile, the BSE has placed the stock under the Short Term Additional Surveillance Measure Stage 2 (ST ASM-2) framework.
Share price history
The stock has delivered a solid 101.84 per cent return over one year. However, it has corrected 45.50 per cent on a year-to-date (YTD) basis as against the dip of 9.94 per cent in the benchmark indices.
Update on Proposed Acquisition of Sunbridge Agro
In a recent regulatory filing, the company said it had entered into a share purchase agreement (SPA) on September 4, 2025, to acquire a controlling stake in Sunbridge Agro Private Limited (SAPL).
Under the agreement, the company paid for a 31.25 per cent stake using its internal resources, and the shares were transferred to the company. The remaining payment was planned to be made from the proceeds of a proposed Qualified Institutional Placement (QIP). However, the QIP did not materialise, resulting in the non-receipt of funds.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
