Elitecon International Shares Hit 5% Upper Circuit Amid Consolidation Plans

Elitecon International shares surged to a 5% upper circuit at Rs 55.15 amid heavy trading, recovering after a nine-session decline. The stock has delivered 133% returns in one year and a 5,420% gain over five years. The company is pursuing consolidation with Sunbridge Agro and other firms to enhance operational scale and shareholder value, though a planned Qualified Institutional Placement to fund acquisitions did not materialize, affecting payment schedules.