Shares of fast-moving consumer goods (FMCG) company Elitecon International surged 5 per cent to hit a 5 per cent upper circuit on Wednesday, amid a strong bounce back in the benchmark index. The 30-share BSE Sensex jumped 1,422.85 points to 78,270.42 in early trade, while the 50-share NSE Nifty climbed 438.25 points to 24,280.90. The action in the benchmark indices comes as global markets rally following a drop in crude oil prices below the USD 95 per barrel mark, amid hopes of renewed talks between the United States and Iran. The counter started the trading session in the red at Rs 38.80 against the previous close of Rs 39.93 on the BSE. However, it surged amid high trading volume and touched the intraday high of Rs 40.49, the stock’s upper circuit.
According to BSE data, a total of 9,39,788 equity shares of the company were traded at the time of writing the report.
Last seen, the stock was trading at Rs 39.97 with a gain of Rs 1.40 or 3.63 per cent, and the market cap of the company stood at Rs 6,389.20 crore.
The counter has outperformed the sector by 1.22 per cent and technically trades higher than the 5-day moving average but lower than the 20-day, 50-day, 100-day and 200-day moving averages.
The stock’s 14-day relative strength index (RSI) is 25.98. For the uninitiated, a level above 70 is considered overbought or overvalued, and below 30 is defined as oversold or undervalued.
Share price history
According to BSE Analytics, the stock has delivered an impressive long-term return of 3709 per cent over the past five years. However, its recent performance has been relatively subdued, and on a year-to-date basis, it has corrected by 60.95 per cent, compared to a dip of 8.39 per cent in the benchmark index.
Strong growth in the December quarter
Meanwhile, the company posted strong growth in its standalone revenue from operations for the December quarter. Revenue stood at Rs 502.72 crore, marking a 939 per cent increase from Rs 48.40 crore in the same quarter last year (Q3FY25).
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
