Multibagger stock: Elitecon International share price surged 5% upper circuit to ₹126.60 apiece in Wednesday’s trading session. The stock has been hitting upper circuit for eight consecutive sessions.
The small-cap multibagger stock has surged as much as 40% in last eight sessions. In fact, the stock has doubled its investors wealth by giving 120% returns in just six months and 1,121% in terms of year-to-date (YTD).
What’s behind the rally?
Elitecon has signed a $97.35 million or ₹8.75 billion multi-year export agreement with UAE-based Yuvi International Trade FZE, marking one of the larger finished FMCG-tobacco export deals from India to the Middle East.
The company said the agreement entails supplying cigarettes, premix sheesha, hookah tobacco, smoking blends, and other tobacco-related products. It includes a one-year lock-in clause and is expected to ensure consistent export volumes over the contract period.
According to the company, the arrangement will enhance capacity utilisation and enable more efficient production and logistics planning. It also reinforces Elitecon’s presence in Middle Eastern markets, where demand for tobacco-linked products remains stable.
The filing further noted that Elitecon’s wholly owned subsidiary, Golden Cryo Private Limited, is authorised to manufacture, store, manage, and ship products on the company’s behalf under the agreement. The contract will take effect from January 1, 2026, and will be valid for two years unless terminated earlier.
“The multi-year export agreement marks a significant milestone for Elitecon and reflects sustained global demand for value-added FMCG products manufactured in India. We have been a committed foreign-exchange contributor and this contract further supports India’s broader export-led growth agenda through value-added product exports. The mandate will enable us to scale further, creating many direct and ancillary employment across the value chain,” said Vipin Sharma, MD, Elitecon.
(This is a developing story)
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