Stock Soars 3150% in Five Years, Hits Upper Circuit for Third Consecutive Trading Day
Elitecon International Share Price Hits Upper Circuit for Third Straight Session
Elitecon International's share price continued its upward momentum on Friday, reaching the upper circuit for the third consecutive session. The small-cap stock experienced a significant rally, increasing by as much as 5% to ₹43.52 per share on the BSE. This upward trend has persisted for three consecutive sessions, indicating a strong buying momentum.
The rally in Elitecon International shares was supported by substantial trading volumes. On April 17, approximately 22 lakh equity shares of the company changed hands on stock exchanges, surpassing its one-month average trading volumes of 15 lakh shares. This increased trading activity underscores the growing interest in the company's shares.
Elitecon International Secures Long-Term Supply Contract from Bozza Tobacco
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The recent gains in Elitecon International's share price can be attributed to the company's announcement of a long-term supply contract from South Africa-based Bozza Tobacco (PTY). The contract, valued at ₹202 crore, requires Elitecon International to supply its tobacco products, including cigarettes with various brand names such as Red and Black, B&W, Cape, Ossum, Golden Flake, etc. The contract is set to be executed over a period of two years.
Elitecon International Share Price Performance
Despite its recent gains, Elitecon International's share price has experienced significant fluctuations in the past. The stock has fallen by over 18% in the past month and has declined 57% on a year-to-date (YTD) basis. However, the company's shares have delivered impressive returns, dropping 72% in six months and rising over 12% in one year. Notably, Elitecon International shares have delivered multibagger returns of over 3,200% over the past five years.
| Share Price Performance | 1 Month | YTD | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| Elitecon International | -18% | -57% | -72% | 12% | 3,200% |
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At 12:45 PM, Elitecon International's share price remained locked at 5% upper circuit of ₹43.52 per share on the BSE.
Investor Takeaway
Investors should consider the potential for continued growth in Elitecon International's share price due to its recent contract award.
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