Meanwhile, the BSE has placed the stock under the Short Term Additional Surveillance Measure Stage 4 (ST ASM-4) framework.
Shares of FMCG (fast-moving consumer goods) company Elitecon International are on investors’ radar as the company has informed exchanges that its Board of Directors has approved the proposal to increase the borrowing limit of the company to Rs 500 crore under Section 180(1)(C) of the Companies Act, 2013. The stock started the trading session in the red at Rs 102.79 against the previous close of Rs 104.70 on the BSE. However, it fell and touched an intraday low of Rs 99.47, a dip of 5 per cent from the previous close. Stock has been losing for the last two days and has fallen 7.49 per cent in the period.ย
Technically, the stock trades higher or lower than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.ย
Meanwhile, the BSE has placed the stock under the Short Term Additional Surveillance Measure Stage 4 (ST ASM-4) framework.
The stock has a 52-week high of Rs 422.65, hit on August 25, 2025, and a 52-week low of Rs 9.77.ย
Increases its borrowing power
The company, in a regulatory filing, said that it has borrowing power up to Rs 500 crore, which is expected to help the company invest more and extend loans, guarantees, and security.
โIncreased the Borrowing Powers under Section 180(1)(C) of The Companies Act, 2013 up to Rs 500 Crores, subject to Shareholders’ approval,โ the company informed the stock exchanges.ย
โTo make Investments, give Loans, Guarantees and Security in excess of limits specified under section 186 of the Companies Act, 2013, Subject to Shareholders’ Approval,โ the company said.
Announces new contract
The company recently announced in a filing that it has secured a long-term supply contract from Yuvi International Trade FZE. Under this contract, the company will supply cigarettes, premix shisha, hookah tobacco, smoking mixtures, and other tobacco-related products for the next two years. The total value of this order is approximately USD 97.35 million (approximately Rs 8.75 billion).ย ย
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)