Stock Surges 3000% in Five Years, Hits Upper Circuit on Receipt of Major ₹202 Crore Order

Elitecon International Share Price Surges 5% on Major Export Contract

On Thursday, April 16, Elitecon International share price jumped 5% on the Bombay Stock Exchange (BSE), extending gains to the second day in a row, following the company's announcement of receiving a major export contract. The small-cap stock was locked in the 5% upper circuit at ₹41.47 apiece on the BSE. This follows a 2.41% gain in the last trading session.

Trading volume on the counter remained strong, with nearly 19 lakh shares changing hands as of 12:30 pm. The company has been awarded a long-term supply contract from South Africa-based Bozza Tobacco (PTY) for the supply of cigarettes and other tobacco-related products.

Contract Details

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The company will supply its tobacco products, including cigarettes with the brand names of Red and Black, B&W, Cape, Ossum, Golden Flake, etc. This long-term supply order provides the company with steady export visibility over the contract period and reflects continued demand for its products in international markets.

The agreement also strengthens the company's presence in South African markets and aligns with its ongoing focus on expanding exports and building a sustainable, scalable business model. Overall, the order is expected to contribute positively to business stability and long-term growth, according to the company.

Elitecon International Share Price Performance

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Elitecon International share price has fallen by over 22% in one month and has declined by nearly 60% on a year-to-date (YTD) basis. The small-cap stock has dropped 75% in six months, while it has risen 5% in one year. Meanwhile, Elitecon International shares have delivered multibagger returns of over 3,800% over the past five years. At 12:10 PM, Elitecon International share price was trading 4.86% higher at ₹41.42 apiece on the BSE.