Shares of small-cap fast-moving consumer goods (FMCG) enterprise ‘Elitecon International’ gained nearly 4.5 per cent in intraday trade on Monday, witnessing a trend reversal after five days of losing momentum.
The uptick in the stock was seen for two reasons: the stock market rebounded on a decline in crude prices due to some signs of ease in the Middle East conflict, and the company announced the appointment of executive additional directors.
“The Board has appointed Shri Vipin Sharma and Shri Pradeep Kumar as Executive Additional Directors, effective July 22, 2026 and subject to shareholder approval – a decisive step, taken as banking operations resume, that places the Company’s recovery in the hands of the leadership that built it. The appointments were approved at the Board meeting held on July 22, 2026 and intimated to the stock exchanges the same day,” the company said in an exchange filing.
The shares of diversified FMCG company started the session on a green note at Rs 15.64 against the last day’s closing of Rs 15.51 on the NSE on buying momentum in the broader market. It escalated further, touching an intraday high of Rs 16.20, up 4.40 per cent. At the time of writing, the stock was trading at Rs 15.88, up 2.39 per cent or Rs 0.37 on the NSE.
Meanwhile, it’s 52 week high and low values stood at Rs 46.40 and Rs 15.30, respectively.
Meanwhile, the BSE has placed the stock under the Short-Term Additional Surveillance Measures Stage 1 (ST ASM-1) framework. The FMCG stock’s 14-day Relative Strength Index (RSI) is 12.85.
Stock Market Today
The key domestic equity indices–Sensex and Nifty–traded higher on Monday, breaking a 5-day losing momentum as crude prices fell significantly from the $100 per barrel level.
Last seen, Sensex was trading at Rs 76,860.76, up 1.05 per cent or 800.98 points. Nifty50 was quoted at 23,998.40, up 0.97 per cent or 230.95 points.
Meanwhile, Brent crude, the global oil benchmark, was trading at a level of $89 per barrel, down 7.9 per cent.
Banking Operation Update
Earlier, the company updated on progress towards the restoration of its banking operations. The proceedings are ongoing before the Securities and Exchange Board of India (SEBI).
“The Company”) today provided an update on the progress towards restoration of its banking operations, its participation in the ongoing proceedings before the Securities and Exchange Board of India (“SEBI”), and the steps being taken to stabilise and strengthen the Company’s business operations,” the company said in an exchange filing.