Multibagger small-cap stock: Multibagger small-cap stock Elitecon International share price hit its 5% upper circuit on Wednesday, December 31, with the stock locking in at ₹99.80 on the BSE, tracking gains in the broader market. The move came after three consecutive sessions of decline, indicating renewed buying interest in the multibagger small-cap counter.
The rally in Elitecon coincided with a modest rebound in Indian stock markets. Domestic benchmarks indices Sensex and Nifty 50 were trading marginally higher on the final trading session of 2025 after four straight sessions of losses.
Despite recent volatility, Elitecon has delivered staggering returns to investors over the longer term. Since August 2024, the stock has generated returns of over 7,500%, cementing its status as a multibagger. Over the past one year, the shares have climbed 850%. Performance, however, has been uneven in the shorter term — the small-cap stock gained 58% in the last six months, fell 49% over the past three months, and added 16% in the last one month.
Elitecon touched its 52-week high of ₹422.65 on August 25, 2025, while the 52-week low stood at ₹10.17 on December 31, 2024, underscoring the sharp swings the stock has witnessed over the past year.
Elitecon: Other developments
In a recent exchange filing, the company announced a significant enhancement in its borrowing capacity to support future growth initiatives. Elitecon said it has increased its borrowing powers to ₹500 crore, subject to shareholder approval.
“Increased the Borrowing Powers under Section 180(1)(C) of The Companies Act, 2013 up to ₹500 Crores, subject to Shareholders’ approval,” the company informed stock exchanges. It added that the enhanced limit would enable it “to make investments, give loans, guarantees and security in excess of limits specified under Section 186 of the Companies Act, 2013, subject to shareholders’ approval.”
The move is expected to provide the company with greater financial flexibility to expand its investment activities and lending operations.
Order book update
On December 15, 2025, the tobacco products manufacturer secured a USD 97.35 million long-term supply contract for the export of cigarettes, premix sheesha, hookah tobacco, smoking mixtures, and other tobacco-related products.
“This long-term supply order provides the company with steady export visibility over the contract period and reflects continued demand for its products in international markets,” Elitecon said in its regulatory filing.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
About The Author
