Shares of multibagger stock Elitecon International are set to remain in focus when markets open on Monday, December 29, after the company announced a significant increase in its borrowing capacity to fund future investments and lending activities.
In an exchange filing, Elitecon International said its board has approved increasing the company’s borrowing powers up to ₹500 crore under Section 180(1)(C) of the Companies Act, 2013, subject to shareholder approval. The move is aimed at enabling the company to expand investments and extend loans, guarantees, and securities beyond the limits prescribed under Section 186 of the Act.
“Increased the borrowing powers up to ₹500 crore, subject to shareholders’ approval,” the company informed the stock exchanges, adding that it plans to deploy the enhanced capital capacity for investment and financing activities.
The company has also appointed Aakash Goel, proprietor of G Aakash & Associates, as the scrutiniser for its upcoming extraordinary general meeting (EGM). Elitecon has scheduled remote e-voting from December 29, 2025, to January 27, 2026.
Order Book Boost
Earlier this month, Elitecon secured a long-term export supply contract worth $97.35 million for tobacco and tobacco-allied products, including cigarettes, premix sheesha, hookah tobacco and smoking mixtures. The company said the contract offers long-term export visibility and reflects sustained demand in international markets.
Share Price Performance
Elitecon International shares closed 3.23% lower at ₹104.70 on Friday, compared with ₹108.20 in the previous session, according to BSE data.
Despite recent volatility, the stock has delivered stellar returns since listing in August 2024, generating over 7,700% gains for investors. Over the past year alone, the stock has surged more than 970%, while year-to-date returns for 2025 stand at over 909%.
The stock touched a 52-week high of ₹422.65 in August 2025 and a low of ₹9.58 in December 2024. As of December 26, Elitecon International’s market capitalisation stood at approximately ₹16,736 crore.
Disclaimer:
This article is for informational purposes only and does not constitute investment advice. Readers should consult a qualified financial advisor before making any investment decisions.
