Elitecon International share price jumped 5% on Thursday, April 16, extending gains to the second day in a row, after the company announced receiving a major export contract.
The small-cap stock was locked in the 5% upper circuit at ₹41.47 apiece on the BSE. In the last trading session, the stock had ended 2.41% higher. Trading volume on the counter also remained strong, with nearly 19 lakh shares changing hands as of 12.30 pm.
Elitecon International order win details
The FMCG and tobacco company, Elitecon International, said it has been awarded a long-term supply contract from South Africa-based Bozza Tobacco (PTY) for the supply of cigarettes and other tobacco-related products.
The value of the contract is ₹202 crore. The company will supply its tobacco products, i.e. cigarettes with the brand names of Red and Black, B&W, Cape, Ossum, Golden Flake, etc.
“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. The order has been received in the normal course of business and supports efficient utilisation of manufacturing capacities and better planning of operations,” Elitecon International said in a regulatory filing on April 16.
The agreement also strengthens the company’s presence in South African markets and aligns with its ongoing focus on expanding exports and building a sustainable, scalable business model, it added.
Overall, the order is expected to contribute positively to business stability and long-term growth, according to the company.
Elitecon International share price performance
Elitecon International share price has fallen by over 22% in one month, and has declined by nearly 60% on a year-to-date (YTD) basis. The small-cap stock has dropped 75% in six months, while it has risen 5% in one year. Meanwhile, Elitecon International shares have delivered multibagger returns of over 3,800% over the past five years.
At 12:10 PM, Elitecon International share price was trading 4.86% higher at ₹41.42 apiece on the BSE.
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