Elitecon International share price has delivered multibagger returns of over 3,800% over the past five years.(Image: Pixabay)AI Quick ReadElitecon International share price jumped 5% after the company announced receipt of a major export contract. The small-cap stock was locked in at 5% upper circuit of ₹41.47 apiece on the BSE.
The FMCG and tobacco company, Elitecon International said it has been awarded a long-term supply contract from South Africa-based Bozza Tobacco (PTY) Ltd, for the supply of cigarettes and other tobacco-allied products.
The value of the contract is ₹202 crore. The company will supply its tobacco products i.e. cigarettes with the brand name 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 utilization 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,” it said.
Elitecon International share price has fallen over 22% in one month, and has declined nearly 60% on a year-to-date (YTD) basis. The smallcap stock has dropped 75% in six months, while it has risen 5% in one year. 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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