After 850% annual surge, Elitecon International shares rise 5% to upper circuit. Do you own?
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The shares of Elitecon International, a little-known small-cap, locked at the 5% upper circuit on Wednesday, snapping a three-session losing streak and reigniting investor interest in one of India’s most volatile multibaggers after an 850% surge over the past year, as markets staged a tentative year-end rebound. Elitecon International rose to Rs 99.80 on the BSE on the day, hitting its daily upper circuit. The rally coincided with a modest recovery in Indian equities, with the Sensex and the Nifty 50 trading marginally higher on the final trading session of 2025 after four straight days of losses. The stock’s sharp move reflected renewed buying interest in a counter that has delivered eye-popping long-term gains but has also tested investor nerves with wild price swings. From penny stock to multibagger Despite recent volatility, Elitecon’s longer-term performance remains extraordinary. Since August 2024, the stock has returned more than 7...