6200% returns in one year! Multibagger stock hits upper circuit; here’s why

Elitecon International share price hit the upper circuit for the third straight session on Wednesday. Elitecon International shares were locked at 5% upper circuit limit of ₹69.67 apiece on the BSE.

The gains in Elitecon International share price today comes after the company announced the board meeting date for fundraising.

The Board of Directors of Elitecon International at its meeting held on Tuesday, July 01, 2025, decided to defer the consideration and approval of raising funds to the next Board meeting which is scheduled to be held on Friday, July 04, 2025.

The company’s board of directors on July 4 will discuss and evaluate the proposal for raising funds up to an amount of ₹75 crores by way of preferential allotment, issue of convertible warrants, Foreign Currency Convertible Bonds (FCCBs), Qualified Institutional Placement (QIP) or any other permissible instruments, subject to necessary approvals from Shareholders, regulatory bodies and other stakeholders.

In a separate regulatory filing, Elitecon International said that the Statutory Auditors Report on the Annual Audited Financial Results (Standalone & Consolidated) of the Company for the financial year ended March 31, 2025 do not contain any qualifications, reservations or adverse remarks.

“The Statutory Auditors of the Company have issued unmodified opinion/unqualified opinion on the Annual Audited Standalone Financial Results (Standalone & Consolidated) of the Company for the financial year ended March 31, 2025,” Elitecon International said in a stock exchange filing.

Elitecon International share price has rallied 48% in one month, and more than 106% in three months. The stock has jumped 572% on a year-to-date (YTD) basis, and has delivered multibagger returns of 6,200% in one year.

At 10:40 AM, Elitecon International share price was still locked at 5% upper circuit of ₹69.67 apiece on the BSE.

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