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Shares of Elitecon International edged higher by nearly 1% on Thursday, April 30 amid weak trends in the stock market today. The small-cap stock was in focus after the company announced key leadership changes and outlined an aggressive growth strategy.

The Board of Directors, in its meeting held on April 29, 2026, approved the appointment of Kumar Anubhav Upadhyay as Executive Additional Director, effective the same day. He brings over 25 years of experience spanning information technology, construction, and infrastructure, including 17 years in IT and five years in infrastructure projects across the NCR region. His induction is expected to strengthen the company’s strategic and operational leadership as it scales up its business.

The Board also noted the resignation of Vipin Sharma as Managing Director, effective April 29, and acknowledged his contributions during his tenure.

On the business front, Elitecon has laid out an ambitious expansion plan for its FMCG vertical, with a proposed investment of up to ₹700 crore. The company aims to significantly scale its distribution network, increasing its distributor base from over 500 to around 2,500 by FY27, while expanding retail reach to nearly 75,000 outlets across more than 20 states.

Looking further ahead, the company targets building a portfolio of 10 consumer brands and over 150 SKUs by FY30, signalling a shift toward a more diversified and consumer-focused business model.

Operationally, the company is supported by existing infrastructure, including an 800 MTPD edible oil refinery in Gandhidham and a 235 MT/day manufacturing and packaging facility in Uttar Pradesh. It also plans to leverage its presence in international markets such as the UAE, Singapore, and Hong Kong, while opening up new export corridors across the Middle East, Africa, and Southeast Asia through a phased expansion strategy.

Elitecon International share price today opened at ₹38.01 apiece on the BSE, the stock touched an intraday high of ₹38.28, and an intraday low of ₹37.27 per share.

Shares of Elitecon International have remained under significant pressure across most timeframes, reflecting sustained selling interest in the stock.

In the short term, the stock has declined sharply, falling about 8.7% over the past week and 9.5% in two weeks. The weakness has deepened over a one-month period, with the share price dropping more than 22%, indicating a strong near-term downtrend.

The medium-term picture is even more challenging. Over the last three months, the stock has plunged over 41%, while the year-to-date (YTD) decline stands at around 63%. Over a six-month horizon, Elitecon has lost nearly 74% of its value, highlighting persistent bearish sentiment and heavy drawdowns.

Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight years of experience in journalism and content creation, she has honed her skills in data-driven reporting and market analysis. Her focus is on monitoring stock trends, initial public offerings (IPOs), corporate news, policy shifts, and larger economic trends that affect investors and market players.

At LiveMint, Dhanya consistently writes and produces articles that make complex financial topics accessible to readers. She keeps a close eye on equity markets, commodities, and macroeconomic indicators, assisting audiences in comprehending how global and domestic events influence investment perspectives. Her stories frequently underscore emerging trends within sectors, the IPO market, company earnings results, and market strategies pertinent to both retail and institutional investors.

Before her tenure at LiveMint, Dhanya accumulated a wealth of professional experience at various companies, including MintGenie, Informist, Cogenics, Chary Publications, KPMG, and the Royal Bank of Scotland. These positions allowed her to establish a solid foundation in financial research, reporting, and content creation.

Throughout her career, she has explored numerous subjects such as trading strategies, commodities, IPOs, wealth generation, corporate profits, and macroeconomic indicators. Her background in both financial journalism and corporate settings has given her the ability to tackle stories with analytical rigor while ensuring clarity for her audience. Through her contributions, Dhanya strives to deliver insightful, trustworthy, and investor-centric financial content.

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