Penny Stock Under Rs 10: Elitecon International Shares Hit 5% Upper Circuit, Is Fund Raising Proposal Behind Uptick?

The small-cap diversified FMCG company Elitecon International locked in a 5 per cent upper circuit on Wednesday, October 7, despite a decline in the stock market. The penny stock under Rs 10 started the session slightly higher at Rs 7.32 as compared to the previous day's closing of Rs 7.24 on NSE. Later, amid buying momentum, the FMCG stock rose to a day high at Rs 7.60, hitting the 5 per cent upper circuit. 

The movement in the stock came amid the company announcing that its board will consider and, if deemed appropriate, approve a fundraise through the issuance of equity shares and/or other eligible securities.

Last seen, Elitecon shares were trading at Rs 7.58, up 4.70 up or Rs 0.34. Meanwhile, its 52-week high and low values stood at Rs 46.40 and Rs 7.08, respectively. 

Stock Market Today: key domestic equity indices are trading lower, breaking two days of winning streak. Last seen, Sensex was trading at Rs 72,636.13, down 0.59 per cent or 431.68 points. Nifty 50 was quoted at Rs 22,604.50, down 0.75 per cent or Rs 171.60. 

Board To Consider Fund Raise

In an exchange filing, the company announced that its board will consider raising funds through equity shares or other securities, including preference shares, debentures, warrants, or convertible instruments.

Elitecon FY26 Results

In FY26, Elitecon International Ltd reported a consolidated net profit jump to Rs 185.06 crore, significantly higher than Rs 69.65 crore in FY25. The uptick was primarily driven by strong revenue and subsidiary consolidation.

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Revenue from operations surged nearly ninefold to Rs 5,074.80 crore from Rs 548.76 crore year-over-year. The release of FY26 results was delayed while accounts and financial statements across Indian and overseas subsidiaries were finalised.

Share Price History