Up 4754% from 52-week lows, this multibagger stock to turn ex-split today

Shares of Elitecon International Ltd will turn ex-date for a stock split on Wednesday. The stock has surged a massive 4754 per cent over its 52-week low of Rs 11.02 apiece on August 26, 2024. It last quoted at Rs 534.95 apiece on BSE. The stock with a face value of Rs 10 each would split into 10 shares with face value of Re 1 each.

In a stock split, the already owned shares split into smaller shares in a bid to improve liquidity. There is no impact of stock split on share capital and reserves.

Elitecon International is listed on the BSE. Since 2021, the company has been engaged in the manufacturing and trading of cigarettes, smoking mixtures, sheesha, and other allied tobacco products for both domestic and overseas markets.

At present, the company has business dealings in the UAE, Singapore, Hong Kong, and European countries including the UK. As per its website, Elitecon plans to expand into other product categories such as chewing tobacco, snuff grinders, match lights, matchboxes, pipes, and related items.

Founded in 1987 as Kashiram Jain and Company Ltd, Elitecon initially operated as an equipment manufacturing company based in Guwahati, Assam.

The company has launched multiple brands including Inhale (cigarettes), Al Noor (sheesha), and Gurh Gurh (smoking mixtures). It is also planning to expand its manufacturing facility in 2025. Currently employing around 100 people, Elitecon aims to increase its workforce to approximately 500 by the end of the current financial year, as per its website.

Elitecon has some investments in a fully automated production facility equipped with the latest machinery. These machines undergo regular upgrades to ensure optimal performance. A warehouse further supports efficient storage and enables the company to meet diverse market demands effectively, the company's website suggested.

The company’s Research & Development department is actively involved in new product lines. Elitecon also claims the capability to manufacture any kind of tobacco product tailored to customer specification.

Meanwhile, Automobile Corporation of Goa (Rs 20 per share), Aegis Logistics Ltd (Rs 2 per share) and Quest Capital Markets (Rs 2.50 per share) Ltd will turn ex-date for dividends today.