Shares of fast-moving consumer goods (FMCG) company Elitecon International hit the upper circuit back-to-back amid stock market volatility. The counter hit the 5 per cent upper circuit for the second consecutive day today, i.e. on September 15, 2026. The stock opened in the green at Rs 8.48 against the previous close of Rs 8.19 on the BSE, representing a gain of Rs 0.29 or 3.54 per cent from the previous close. Amid buying interest, the stock gained to touch an intraday high of Rs 8.59, up Rs 0.40 or 4.88 per cent from the previous close, and locked in a 5 per cent upper circuit. Last seen, the stock held firmly in the green and was trading at Rs 8.58. The market cap of the company stood at Rs 1,371.51 crore.
The action in the stock comes even as the Sensex has dropped over 600 points to 74,176 after a positive start despite mixed global cues.
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 19.11. For the uninitiated, a level above 70 is considered overbought or overvalued, and below 30 is defined as oversold or undervalued.
Based on 2 per cent of the 5-day average traded value, the stock is liquid enough for a trade size of Rs 0.21 crore.
Share price history
The counter has been gaining for the last three days and has risen 15.01 per cent in the period. The stock is trading higher than the 5-day moving averages but lower than the 20-day, 50-day, 100-day and 200-day moving averages.
The stock has a 52-week high of Rs 237 and a 52-week low of Rs 7.09.
Board to consider fundraising
Meanwhile, the Board of Directors of the company has deferred the consideration and approval of raising funds to the next Board meeting, scheduled for July 04, 2025.
At the meeting, the company will evaluate the proposal to raise up to Rs 75 crores through preferential allotment, issue of convertible warrants, foreign currency convertible bonds (FCCBs), qualified institutional placement (QIP), or any other permissible mode.
ALSO READ:
Raymond shares details of its aerospace subsidiary, stock jumps 35% per cent in 1 week
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
