Shares of this BSE-listed company hits fresh 52-week high today
शेयर बाजार में हाहाकार, अरबों डॉलर हुए स्वाहा
Shares of BSE-listed Elitecon International surged 5 percent in Wednesday's trading session to hit an upper circuit of Rs 518.05. The upper circuit is a regulatory mechanism that restricts the upward movement of a stock's price, preventing it from being traded at a price higher than the circuit limit. The counter opened gap up at Rs 516.85 with a gain of 4.75 percent from the previous close of Rs 493.40.
The momentum continued amid buying, and the stock hit an upper circuit of Rs 518.05 – also the fresh 52-week high. The 52-week low of the stock is Rs 11.02. The market cap of the company is Rs 8,281.03 crore. The scrip is trading higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages
The stock has been gaining for the last seven days, indicating a strong bullish trend in the market. It has surged 42.48 per cent in this period, which is a significant increase in a short span of time. Q4 Results
Elitecon International's stock has been on a positive trajectory ever since the company announced its robust Q4 results. This strong performance may reassure investors about the company's financial health and future prospects.
The company reported a 94 per cent YoY increase in net profit to Rs 12.21 crore. The net profit of the company in the same quarter a year ago was Rs 6.30 crore.
Share Price History
According to BSE Analytics, the scrip has given a solid return of 627 per cent in six months and nearly 400 per cent on a YTD (year-to-date) basis.
The company's sales saw a remarkable growth of 170 per cent, reaching Rs 120.41 crore in the quarter under review. This significant increase, compared to Rs 44.49 crore in the March 2024 quarter, may inspire optimism about the company's future performance. Stock Market Today
Meanwhile, benchmark stock indices rebounded in early trade after three days of decline tracking a rally in global markets.
The 30-share BSE Sensex climbed 230.17 points to 80,967.68 in early trade. The NSE Nifty went up by 70.
25 points to 24,612.75.
From the Sensex firms, Bharti Airtel, Eternal, IndusInd Bank, Maruti, Tata Motors and Bajaj Finance were the major gainers.
However, Tata Consultancy Services, UltraTech Cement, Titan and ICICI Bank were among the laggards.
In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng were trading significantly higher.
With PTI inputs
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