This FMCG stock in action today as board to meet consider fund raising via QIP
Elitecon International, a smallcap stock, achieved a significant milestone on Monday, July 21, 2025, by hitting a fresh 52-week high. This remarkable feat was accomplished amidst a highly volatile stock market in the early trade. The stock opened with a gain of 5 per cent today, starting the trading session at Rs 131.25, the upper circuit of the counter. This surge in stock value is a testament to the company's resilience and potential. The market cap of the company is Rs 20.980 crore, and the scrip has been on an upward trajectory for the last 21 days, marking a rise of 165.74 per cent in the period. Technically, it trades higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages, indicating a strong performance. Company Plans To Raise Funds Via QIP
The company has informed exchanges about its strategic move to raise capital. The board of directors is set to convene to discuss and approve the raising of capital by issuing equity shares via a Qualified Institutions Placement (QIP) valued at Rs 300 crores on Friday, July 25. This proactive step demonstrates the company's commitment to its growth and development.
'Raising of funds by issue of Equity Shares through Qualified Institutions Placement ('QIP') for an aggregate amount up to Rs.300,00,00,000/- (Rupees Three Hundred
Crores) (inclusive of such premium or discount as may be fixed on such Equity Shares) subject to the receipt of approval of the Members of the Company and such other approval(s)/permission(s)/ consent(s)/ sanction(s) of any government/regulatory/ statutory authorities, as may be required,' the company said in an exchange filing. Share Price History
According to BSE Analytics, Elitecon International's stock has been a standout performer, delivering a multibagger return of 1165.67 per cent so far this year. In six months, the counter has surged by 881 per cent, and in three months, it has seen a remarkable increase of 246 per cent. This detailed stock price history provides a comprehensive view of the company's stock performance, empowering the audience with valuable insights. Market Remains Volatile
Meanwhile, equity benchmark indices Sensex and Nifty dropped in early trade on Monday. However, they rebounded amid buying in the blue-chip stocks ICICI Bank and HDFC Bank.
The 30-share BSE Sensex declined 148.68 points to 81,609.05 in early trade despite a positive start. The 50-share NSE Nifty dropped 67.55 points to 24,900.85.
Later, both the benchmark indices bounced back and were trading in the green. The BSE benchmark quoted 181.30 points higher at 81,944.67, and the Nifty traded 36.75 points up at 25,009.10.
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