New Delhi [India], April 17: Elitecon International Ltd witnessed strong market momentum on Friday as its shares hit the upper circuit limit of 5 percent, rising to ₹43.52 from the previous close of ₹41.45. The company, which commands a market capitalization of ₹6,960 crore, has a 52-week high of ₹422.65 and a low of ₹32.26, reflecting significant volatility alongside recent positive developments.
In a major business update, the company announced the award of a long-term international supply contract valued at approximately ₹202 crore (₹2.02 billion). The contract has been secured from Bozza Tobacco (PTY) Ltd, a foreign entity, for the supply of cigarettes and tobacco-related products over a period of two years. The agreement covers multiple established cigarette brands, including Red & Black, B&W, Cape, Ossum, and Golden Flake, among others.
The company stated that the order was received in the normal course of business and is expected to ensure steady export revenue visibility while supporting efficient capacity utilisation and operational planning. This development also strengthens Elitecon's foothold in international markets, particularly in South Africa, and represents a strategic step toward expanding its presence across the African continent.
Management highlighted that the long-term nature of the contract will enhance revenue stability and align with the company's broader strategy of building a scalable, export-driven business model while reinforcing its global distribution network.
Elitecon International continues to focus on manufacturing and trading tobacco products, leveraging strategic partnerships and export opportunities to drive sustainable growth in global markets.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor