Stock Market Today: Multibagger small-cap stock hit upper circuit during intraday trades on Thursday despite a weak Indian stock market; this followed an announcement of the acquisition update of an overseas business entity, Elitecon International Limited.
Multibagger small-cap stock Elitecon International Board meeting outcome
Multibagger small-cap stock ELITECON INTERNATIONAL Ltd. announced the outcome of the board meeting held on 9 July 2025. The Board of Directors of Elitecon International considered and approved the acquisition of an overseas business entity.
Multibagger small-cap stock Elitecon International acquisition details
Elitecon International, in its release on the BSE, or the Bombay Stock Exchange, and the Calcutta Stock Exchange, announced the approval by its board regarding the acquisition of an overseas business entity. Elitecon International is set to acquire Prime Place Spices Trading L.L.C.
The entity is engaged in trading spices, nuts, coffee, tea, confectionary, and chocolate.
The target entity, Prime Place Spices Trading L.L.C., has achieved a turnover of United Arab Emirates Dirham (AED) 160.15 million as of December 31, 2024, as per Elitecon International. The acquisition would not fall within a related party transaction, as clarified by Elitecon International, and its promoter or promoter group or group companies did not have any interest in the entity being acquired.
The main objective or reason of acquisition by Elitecon International Limited is that it has already established its presence in the Fast-Moving Consumer Goods (“FMCG”) segment within the domestic market, specifically in the Agro commodities sector. Further, Elitecon International is now exploring opportunities to expand into similar lines of business in international markets.
The Target Entity Prime Place Spices Trading L.L.C is a strategically aligned acquisition candidate as per Elitecon International, with a strong and established presence in the Fast Moving Consumer Goods sector in Dubai, which is a key global trading hub.
Elitecon International said that this acquisition would position the company as a global player in the FMCG space, complementing its existing focus on agro commodities while offering significant potential for diversification into other product segments.
Multibagger small-cap stock Elitecon International share price movement
On Thursday, the share price of Elitecon International opened at ₹93.34 on the BSE. The share price of Elitecon International was up 5% at the time of opening compared to the closing price of ₹89.90 the day before. The share price was locked in the upper circuit since the 5% price band is likewise the upper price band for the Elitecon International share.
The share price of Elitecon International also reached its 52-week, or one-year, peak as it reached the ₹93.34 mark.
Elitecon International share price having risen 8385% in a year has given multibagger returns to the investors.
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