Shares of diversified fast-moving consumer goods (FMCG) enterprise Elitecon International jumped 11 per cent on Monday, July 20, 2026, despite the benchmark indices, Sensex and Nifty, falling in early trade amid heavy selling in blue-chip stocks and a surge in crude oil prices due to ongoing tensions between the US and Iran. The 30-share BSE Sensex tanked 523.22 points to 77,628.23 in early trade. The 50-share NSE Nifty declined 134.10 points to 24,198.25. Amid this fall, shares of the company opened in the green at Rs 18.30, with a gain of Rs 0.43 or 2.40 per cent. It later touched an intraday high of Rs 19.85, representing a gain of Rs 1.98 or 11.08 per cent from the last closing price. However, the stock witnessed profit-booking at higher levels and fell to an intraday low of Rs 18. The market cap of the company stood at Rs 2,877.30 crore.
What’s behind the rally?
The rally in the stock comes as the company has provided an update regarding the progress towards restoration of its banking operations, amid the ongoing proceedings before the Securities and Exchange Board of India (SEBI).
“We sincerely thank SEBI for considering the operational difficulties placed before it and for issuing the clarification to the concerned banks. This development will support the Company’s efforts to meet its legitimate commitments towards employees, vendors, customers and other stakeholders. The Company respects the regulatory process and will continue to cooperate fully while pursuing its lawful rights and contentions,” the company said.
Share price history
The counter has been gaining over the last two days, rising 4.06 per cent in the period. Technically, it is trading lower than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.
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 16.46. For the uninitiated, a level above 70 is considered overbought or overvalued, and below 30 is defined as oversold or undervalued.
The stock has a 52-week high of Rs 422.65, hit on August 25, 2025, on the BSE and a 52-week low of Rs 17.29.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
