Latest news with #PrimePlaceSpicesTradingLLC
Mint
20 hours ago
- Business
- Mint
1105% rally in YTD! Small-cap multibagger stock to be in focus on Monday; here's why
Small-cap multibagger stock: Shares of Elitecon International will be in focus on Monday, July 21, as the company in its filing said that 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 ₹ 300 crores on Friday, July 25. 'Raising of funds by issue of equity shares through QIP for an aggregate amount up to ₹ 300,00,00,000 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,' said the firm. Over the last month, Elitecon International has demonstrated exceptional performance, registering an impressive rise of 128.44%, greatly surpassing the Sensex, which has only increased by 0.38% during this time. Year-to-date, the stock has skyrocketed by an incredible 1105.40%, while the Sensex has only seen a rise of 4.14%. On Friday, July 18, Elitecon International share price closed 4.95% higher at ₹ 125 apiece on the BSE. Recently, the company announced that the board reviewed the current status of the proposed acquisition of 100% equity shares of Prime Place Spices Trading LLC from its sole shareholder, Mr. Santosh Sharma, as previously authorized. Based on insights from the ongoing legal and financial due diligence conducted by both internal and external teams, the Board has pinpointed several significant gaps and outstanding issues that substantially affect the transaction's viability. The board has set a deadline of August 16, 2025, for the target entity to address and present the required explanations/documents to the board's satisfaction in order to continue discussions about the acquisition of the target company. If this is not accomplished, the proposed transaction will be considered closed. Elitecon Intl. specialises in the production and sale of various tobacco products, including cigarettes and smoking supplies, as well as any other goods typically offered by tobacconists. At present, the Company operates in international markets including the UAE, Singapore, Hong Kong, and various European nations such as the UK, with intentions to expand its product line to include chewing tobacco, snuff grinders, lighting matches, match boxes, pipes, and other related items. The Company has introduced brands like Inhale in the cigarette sector, Al Noor in the sheesha category, and Gurh Gurh in the smoking mixture range. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
India.com
3 days ago
- Business
- India.com
THIS company hits upper circuit, shares update on proposed acquisition
25 महीने में करोड़पति बन गए निवेशक Shares of Elitecon International, a fast-moving consumer goods (FMCG) company, continued their upward trajectory on Thursday, July 17, 2025. This was a remarkable feat, considering the market's volatility due to fresh foreign fund outflows. The counter opened with a significant gain of 5 per cent today at Rs 119.11, a clear indication of the company's resilience. This also marks a fresh 52-week high for the company, a testament to its strong performance even in challenging market conditions. Company Shares Update On Proposed Acquisition On a different note, the company has made a strategic decision regarding its proposed acquisition. In a recent filing to the exchanges, the company's board has decided to put the acquisition of 100 per cent equity shares of Prime Place Spices Trading LLC on hold. This decision, which renders the earlier signed Share Purchase Agreement and related documents null and void, is a clear indication of the company's careful and informed approach to its business dealings. Share Price History According to BSE Analytics, Elitecon International's stock has delivered an outstanding return of 1,048 per cent so far this year, and an impressive 808 per cent in the past six months. This exceptional performance is a testament to the company's strong market position and its ability to generate high returns for its investors. Meanwhile, the BSE has placed the stock under the Short Term Additional Surveillance Measure Stage 4 (ST ASM-4) framework. This measure, which is implemented to [explain the purpose of the measure], could potentially [describe the potential impact on the stock's trading]. Stock Market Today Equity benchmark indices Sensex and Nifty started the day on a firm note on Thursday but later faced selling pressure, with investors remaining in a wait-and-watch mode, as hopes are pinned on a favourable outcome from the US-India trade talks. Fresh foreign fund outflows also dented investors' sentiment as they preferred staying on the sidelines. The 30-share BSE Sensex climbed 119.05 points to 82,753.53 in opening trade. The 50-share NSE Nifty went up by 18.7 points to 25,230.75. However, later the BSE benchmark quoted 71.51 points lower at 82,554.47, and the Nifty traded 30.30 points down at 25,182.55.
Mint
3 days ago
- Business
- Mint
Multibagger small-cap stock hits upper circuit despite rising 10,700% in one year. Do you own?
Elitecon International share price hit the upper circuit on Thursday, touching a new 52-week high amid sustained buying interest. The small-cap stock rose 5% to a fresh peak of ₹ 119.11 apiece on the BSE. Notably, Elitecon International stock price has locked in the upper circuit in eighteen out of the last nineteen trading sessions, reflecting strong bullish momentum. The latest gains in Elitecon International share price comes after the company announced that its board of directors have put on hold the proposed acquisition of Prime Place Spices Trading LLC. Elitecon International board, at its meeting held on Wednesday, July 16, 2025, discussed the status of the proposed acquisition of 100% equity shares of Prime Place Spices Trading LLC from its sole shareholder Santosh Sharma, as previously approved. 'Based on the findings from the ongoing legal and financial due diligence process through the internal and external team, the Board has identified several critical gaps and unresolved concerns that materially impact the viability of the transaction,' Elitecon International said in a regulatory filing on July 16. These include serious issues related to the integrity and verifiability of major key financial metrics, asset quality and supporting documentation, all of which are essential for a transaction of this nature, it added. Despite multiple follow-ups, the company said the required information has not been satisfactorily provided. 'As a result, the Board has resolved to place the proposed acquisition on hold and the earlier signed Share Purchase Agreement along with related documents shall be considered null and void. The transaction may be reconsidered in the future upon receipt and satisfactory review of all necessary clarifications and supporting records,' said the company. The deferment shall be effective immediately and shall stay in place until satisfactory and verifiable resolution or documents or information is submitted and evaluated, it added. Consequently, the company has also cancelled the Extra Ordinary General Meeting (EGM) scheduled to be held on August 06, 2025, to seek approval from the members of the company for the said acquisition. Moreover, the company's board has given a deadline of August 16, 2025, to the target entity to resolve and submit necessary explanations/ documents to the satisfaction of the Board in order to reinitiate the discussion regarding the acquisitions of the Target Company failing which the proposed transaction shall be deemed to be closed, it added. Elitecon International share price has delivered exceptional returns across multiple timeframes. The small-cap stock has surged 107% over the past month and 208% in the last three months. Over a six-month period, Elitecon International shares have generated multibagger returns of 808%, while delivering a remarkable year-to-date (YTD) gain of 1,050%. Notably, the small-cap stock has skyrocketed 11,800% over the past five years. At 12:50 PM, Elitecon International share price was still locked at 5% upper circuit of ₹ 119.11 apiece on the BSE. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
