Elitecon International to undergo 10:1 stock split; record date set for June 25
BSE-listed Elitecon International, a smallcap company known for its tobacco-based products, has announced its first-ever stock split to reward shareholders and improve stock liquidity.
ADVERTISEMENT In an exchange filing dated June 13, the company's board approved a 10:1 stock split, meaning each share with a face value of Rs 10 will be divided into 10 shares of Re 1 each.
Also Read: These 11 Nifty microcap stocks can rally 55-210% in the next 12 months
The company has fixed June 25, 2025 (Wednesday) as the record date to determine shareholder eligibility for the split."...fixed Wednesday, June 25, 2025 as the Record date for the purpose of determining the entitlement of Equity Shareholders for Subdivision/split existing Equity shares of the Company from 1 Equity share having face value of Rs 10 each fully paid-up, into 10 Equity Shares having face value of Rs 1 each fully paid-up," the company said in its filing.
Also Read: Swiggy, Radico Khaitan among 7 stocks on which brokerages initiated coverage, see up to 34% upside
ADVERTISEMENT A stock split is a corporate action aimed at making shares more affordable for retail investors by reducing the face value, which proportionally lowers the trading price without affecting the overall market capitalization or investor holding.
Also Read: KEI Industries, DCB Bank among 10 small-cap stocks analysts expect to gain up to 75%
ADVERTISEMENT On the technical front, the stock's Relative Strength Index (RSI) stands at 62.1, indicating neutral to moderately bullish momentum. (RSI above 70 signals overbought conditions, while below 30 indicates oversold.) The MACD is at 49 and remains above both its centerline and signal line, suggesting a bullish bias.The stock is trading above key medium- to long-term moving averages (20-day to 150-day SMAs), indicating a positive trend, but remains below the short-term 5-day and 10-day SMAs.
ADVERTISEMENT Elitecon International, which currently commands a market capitalisation of Rs 8,358 crore, ended Friday's session (June 13) lower at Rs 522.90 on the NSE.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
(You can now subscribe to our ETMarkets WhatsApp channel)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Indian Express
36 minutes ago
- Indian Express
Mumbai to generate additional 7,200 MLD of water by recycling overflowing water from Tulsi and Vihar lakes
In a much-needed push to Mumbai's existing water stock, the Brihanmumbai Municipal Corporation is set to generate additional water of 7,200 million litres by recycling the overflowing rainwater from Vihar lake and make them fit for potable usage. During the monsoon, surplus water from the catchment areas of three major lakes in Mumbai–Tulsi, Vihar and Powai–gets channelled to the Mithi river through natural estuaries. As a result, the surplus rainwater flowing into the river overflows, resulting in waterlogging at areas like Dharavi, BKC and Kurla which are close to the river. 'Due to climate change, high intensity rains are occurring within a short duration period and often the heavy rains coincide with the high tide of sea at river confluences resulting in flooding across the flood-plain areas in city and suburbs,' Abhijit Bangar, additional municipal commissioner (projects), told the Indian Express. To combat this issue, the BMC will be constructing a mini-pumping station with a capacity to treat 200 million litres daily (MLD) that will hold the additional water. The construction cost has been pegged at Rs 100 crore. 'In view of the above factors, we decided that if overflowing water from Vihar lake into the Mithi river could be collected, then it will not only lead to less flooding in Mumbai but will also result in additional stock of water in the city,' Bangar said. The pumps will have a capacity to process 200 million litres water daily (200 MLD) and considering that heavy rains occur on an average of 36 days during the monsoon, the civic body aims to generate a minimum 7,200 million litres in a month during monsoon–pushing the water stock. At present, the construction work is underway, and the pumps will become operational from 2027 onwards. Civic officials said that from the pumping station, the water will be transferred to Mumbai's sole water filtration plant at Bhandup where the water will be further recycled and filtered at an advanced level, making them fit for potable usage. Being an island city, Mumbai draws its water from seven lakes–Tulsi, Vihar, Bhatsa, Tansa, Upper Vaitarna, Middle Vaitarna and Modak Sagar. While two of these lakes are located within Mumbai, the rest are in the neighbouring districts of Thane, Palghar and Nashik. The catchment area of these lakes gets filled during the monsoon, and the water is transported through tunnels to the BMC's filtration plant. After filtration, water is supplied to every household and commercial establishment through pipelines and reservoirs.
Time of India
an hour ago
- Time of India
CM inspects Bihta MSME units, hails export boost & job creation
1 2 Patna: CM Nitish Kumar on Sunday visited three operational micro, small and medium enterprise (MSME) units at the Sikandarpur industrial area in Bihta, Patna, and lauded their contribution to employment and exports, particularly of non-chemically treated fruits such as litchis and jardalu mangoes. "It gives immense happiness to know that several units are in operation in this industrial area. To provide jobs to youths and to hone their entrepreneurial skill, the govt had started the CM Entrepreneurial Scheme under which persons from all classes are getting attracted to have a new opening in their life," the CM said during the inspection. He added, "The atmosphere is conducive for industrial activities in the state. The govt, too, is providing all required facilities to interested entrepreneurs and industrial incentive policy has also been framed to promote them." The CM said women have also been engaged and efforts are being made to involve local youths. Among the three units visited was the integrated irradiation centre (IIC), which exports non-chemically treated litchis and jardalu mangoes to the UAE and Qatar. Under the "Gift from Bihar" initiative, 2,000 premium jardalu mangoes were recently sent to domestic and international guests. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Neurologists Amazed: These Barefoot Shoes Help Seniors Lose Weight and Live a Life with Less Pain Barefoot Vitality Learn More Undo The IIC was set up at an investment of Rs 58 crore to process and export fruits, vegetables, spices, herbs, meat and fish, all treated to ensure longer shelf-life using non-chemical methods. The facility includes a 3,000 KCL capacity unit with a Cobalt-60 radiation source, a cold storage facility (4,000 metric tonnes), a dry warehouse (4,000 tonnes) and a packaging unit with a two metric tonnes per hour capacity. The CM also visited R K Shirts Private Limited and a canvas and gift bag production unit. The three enterprises together employ over 350 skilled workers. R K Shirts, which began operations in April 2025 after being allotted a 37,056 sqft shed, has trained over 180 local youths and plans to expand its workforce to 1,200. During his visit, the CM interacted with workers and sought updates on the operations. He was accompanied by senior officials from the industries department, Patna division and district as well as other dignitaries. Follow more information on Air India plane crash in Ahmedabad here . Get real-time live updates on rescue operations and check full list of passengers onboard AI 171 .
Time of India
an hour ago
- Time of India
Wind energy centre of Atma Nirbhar Bharat: India becomes 3rd largest maker of renewable energy; wind capacity hits 51.5 GW in a decade
On Global Wind Day 2025, Union minister for new and renewable energy Pralhad Joshi stressed on the importance of wind energy and said that it is crucial to India's clean energy plans and crucial to its ambition of becoming a global manufacturing hub. Speaking at a stakeholder meeting in Bengaluru, he said India needs reliable energy, from wind, solar or other sources, to become a global manufacturing hub. "Wind energy is not a component of our renewable energy strategy, but it is at the heart of it and at the centre of Atma Nirbhar Bharat," he said. The minister said that India has achieved 51.5 GW of wind capacity, marking a 150% increase over the last decade, and is now exporting turbines and components globally. The country has set its sights on 100 GW of wind energy by 2030, including 30 GW from offshore projects, 'backed by strong policy reforms and a robust manufacturing ecosystem.' The minister said India has set clear and ambitious goals — to get 50% of its power from non-fossil fuel sources by 2030 and to become net-zero by 2070. He stressed that wind energy is not just a part of the country's renewable strategy, but lies at its core and is key to building an Atma Nirbhar Bharat. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 2025 Top Trending Local Enterprise Accounting Software [Click Here] Accounting ERP Click Here Undo He also underlined the three issues the sector must now tackle: integrating wind with solar and storage for round-the-clock power, reducing tariffs from the current Rs 3.90 per unit, and boosting manufacturing efficiency to compete globally. Highlighting PM Modi's vision, Joshi said the goal is to use renewable energy to power India's manufacturing sector, while conventional energy continues to meet household needs. India is currently the world's fourth-largest country in installed wind power capacity and the third-largest renewable energy producer overall. India's manufacturing capacity is increasing, and it will continue to rise. "No one had thought that India would become the third largest manufacturer of renewable energy in 10 years, but today it is a reality," said the minister. To unlock the full potential of the wind sector, Joshi outlined five focus areas: expanding into new states like Madhya Pradesh, Telangana, and Odisha; launching the offshore wind sector with leasing areas in Gujarat and Tamil Nadu; integrating wind with storage for firm green power; modernising the grid using AI-based forecasting; and strengthening local manufacturing across the wind value chain. Joshi also released two key reports, the Wind Energy Roadmap and Manufacturing Roadmap, to serve as frameworks for India's clean energy journey. 'These documents reflect our strategic vision and our collective resolve to build a strong, self-reliant wind ecosystem,' he said. The event also saw the recognition of top-performing states in wind capacity addition: Karnataka led with 1,331.48 MW, followed by Tamil Nadu (1,136.37 MW) and Gujarat (954.76 MW). Union minister of state for new and renewable energy, Shripad Yesso Naik, and Karnataka's energy minister, KG George, were also present at the event. India's wind ambitions align with its global climate commitments, including the five-point 'Panchamrit' pledge made at COP26 in Glasgow. These include reaching 500 GW of non-fossil capacity, cutting emissions by 1 billion tonnes, and reducing emissions intensity by 45%, all by 2030. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
