look news india
Amidst the boom in the Indian stock market on Thursday, tremendous action was seen in the shares of FMCG sector giant Elitecon International. Sensex and Nifty improved due to return of foreign funds and buying in blue-chip shares, which directly benefited this counter. The company’s shares rose by about 9 percent during the trading session. However, due to profit booking by investors at upper levels, it closed slightly below the day’s high.
Shares shined in early trade, then sellers dominated at upper levels
Shares of Elitecon International opened in the green on the Bombay Stock Exchange (BSE). It opened at Rs 24.51 with a gain of 2.6% from its previous closing price of Rs 23.88. The stock continued to rise on the back of strong market sentiment and touched an intraday high of Rs 26, which was 8.87% higher than the previous closing price.
But instead of sustaining at this high level, the stock suddenly saw profit booking, due to which it slipped to a low of Rs 23.60. This level is very close to its 52-week low (Rs 23.25). It is noteworthy that the company’s 52-week highest level is Rs 422.65, which it achieved on August 25, 2025. As per the latest data, this counter was trading around Rs 23.74 and the total market cap of the company was recorded at Rs 3,801.23 crore. On the technical front, the stock currently remains below its 5-day, 20-day, 50-day, 100-day and 200-day moving averages (DMA).
Rs 700 crore mega-plan: Company will reach 5 lakh retail outlets
The reason behind this surge in shares is the company’s recent big business update. Elitecon International has outlined a major expansion plan with an estimated capital outlay of Rs 700 crore for the coming period. Under this aggressive strategy, the company aims to create a huge distribution network, in which 5,000 partners will be added in a phased manner.
Through this, the company wants to have direct access to more than 5,00,000 retail outlets and more than 15 international markets. Additionally, the company’s vision is to build a large portfolio of 10 strong consumer brands and over 150 stock keeping units (SKUs). To handle this entire production, the company will utilize its existing manufacturing facility in Nashik, where capacity expansion and automation upgrades are underway.
Bumper returns of more than 2,160% in 5 years, know what technical indicators say
The track record of this counter has been quite excellent for long term investors. The stock has proved to be a multibagger by giving handsome returns of 2,161.90% to its shareholders in the last five years. However, the stock has recorded a huge decline of about 76.82% so far this year (YTD) in 2026, while in comparison the benchmark index has declined by only 7.82%.
Talking about technical indicators, the 14-day Relative Strength Index (RSI) of the stock has come at 24.81. According to market norms, an RSE level below 30 indicates that the stock is ‘oversold’ or ‘undervalued’ (cheap), which increases the chances of price correction in the coming time.