Small-cap stock under Rs.50 Elitecon International hits 10% upper circuit for second day in a row

About this update from Elitecon International Ltd.

New Delhi, Aug. 4 -- Elitecon International share price hits 10% upper circuit on NSE in Tuesday's trading session, for the second session in a row. The stock rally came in despite muted trends on Dalal Street.The small-cap stock opened at Rs.17.19 apiece today. The stock touched an intraday high of Rs.18.90 on 4 August.Meanwhile, benchmark indices witnessed an unusual divergence on Tuesday, August 4, with the 30-share Sensex rising more than 0.60%, while the NSE Nifty 50 declined over 1% during the session. The contrasting performance of the two frontline indices left investors puzzled.Elitecon International has announced the appointment of Shri Vipin Sharma and Shri Pradeep Kumar as Executive Additional Directors, effective July 22, 2026, subject to shareholder approval.The appointments, approved by the Board at its meeting on July 22 and disclosed to the stock exchanges the same day, come as the company resumes its banking operations and aims to strengthen its leadership during its recovery phase.Shri Vipin Sharma's return is a homecoming. A promoter of the company and a second-generation entrepreneur, he has devoted more than three decades to some of India's most demanding and closely regulated industries, the company said.Shri Pradeep Kumar has been appointed to the Board from within the EIL group, where he currently serves as a Director at Golden Cryo Private Limited, a subsidiary of the Company.He brings over 23 years of experience in leading large-scale construction and infrastructure projects, along with five years in tobacco industry operations, positioning him well to support the company's turnaround efforts from the outset.With banking operations restored and a renewed leadership team in place, the company is entering the second half of the financial year with its revival strategy gaining momentum."I had intended to step away from active corporate life; those plans can wait, because this Company comes first. EIL has been built over the years with immense effort and, above all, with the trust of its shareholders, employees and partners - and I have returned for one purpose: to lead its revival with vigour, purpose and discipline. We will further strengthen the Board and the management with experienced key managerial personnel and independent directors in the period ahead. To everyone who has stood by this Company, I extend my sincere gratitude ...

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