Shares of fast-moving consumer goods (FMCG) company Elitecon International reversed course today, gaining after nine consecutive falls. The action in the stock comes even as benchmark indices Sensex and Nifty drifted lower as elevated crude oil prices and fresh US-Iran tensions weighed on investors’ sentiment. The counter opened in the red at Rs 10.12, down from the previous close of Rs 10.65. This is also its 52-week low. Amid a spurt in volume by more than 3.30 times, the counter gained and was locked in 5 per cent of upper circuit of Rs 11.18. Last seen, the stock was trading at Rs 11.10, and the market cap of the company stood at Rs 1,702.40 crore. The stock has a 52-week high of Rs 311.60, touched a year ago on September 1, 2025.
Relative strength index
Meanwhile, the BSE has placed the stock under the Short Term Additional Surveillance Measure Stage 1 (ST ASM-1) framework.
The stock’s 14-day relative strength index (RSI) is 15.63. For the uninitiated, a level above 70 is considered overbought or overvalued, and below 30 is defined as oversold or undervalued.
The stock has outperformed the sector by 5.17 per cent and is technically trading below the 5-day, 20-day, 50-day, 100-day, and 200-day moving averages.
Share price history
According to BSE Analytics, the stock has returned 958.10 per cent in five years and 729.10 per cent in two years. However, it has corrected 96.43 per cent in one year. On a year-to-date (YTD) basis, the stock has fallen 89.15 per cent, compared with a 9.39 per cent dip in the benchmark index. It has corrected 19.38 per cent in one week.
Meanwhile, the company has significantly strengthened its board and senior management, with eight key appointments as part of its ongoing board, management and governance strengthening.
Approved at the Board meeting held on August 14, 2026, the appointments of the directors, including the Managing Director, are subject to approval of the members within the timelines prescribed under applicable law.
The development follows the company’s announcement in July 2026, in which the firm said it intended to strengthen the board and management by inducting experienced independent directors and key managerial personnel.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
