Cigarettes and tobacco products manufacturing company Elitecon International has informed exchanges with full transparency that a special resolution was floated and moved during the companys extraordinary general meeting. This resolution was regarding the consideration and approval of capital raising via a qualified institutional placement. The company proposed to raise an aggregate amount of up to Rs. 3000000000/-(Rupees Three Hundred Crores Only) by way of Qualified Institutions Placement (“QIP”) ensuring that all stakeholders are fully informed about its financial decisions. The counter hit a 5 per cent lower circuit in the opening session. It opened at Rs 311.60 against the previous close of Rs 327.95 The stock has a 52-week high of Rs 422.65 hit on August 25 2025. The counters 52-week low is Rs 1.34. The market cap of the company is Rs 49.809 crore. Currently the stock is under Additional Surveillance Measure Framework (ASM LT: Stage 4). Meanwhile benchmarke indices rebouded after a flat opening. The 30-share BSE Sensex surged 534.80 points or 0.67 per cent to 80344.45. The 50-share NSE Nifty went up by 192.50 points or 78 per cent to 24619.30. From the Sensex firms Infosys Tech Mahindra Tata Consultancy Services Power Grid HCL Tech and NTPC were among the major gainers. However Hindustan Unilever Reliance Industries ITC and Sun Pharma were among the laggards. Indias economy grew by a stronger-than-expected 7.8 per cent in April-June its fastest pace in five quarters before US President Donald Trump imposed tariffs that now cloud the outlook threatening key exports like textiles. In Asian markets Shanghais SSE Composite index and Hong Kongs Hang Seng traded in positive territory while South Koreas Kospi and Japans Nikkei 225 index quoted lower. Story Highlights The counter hit a 5 percent lower circuit in the opening session. It opened at Rs 311.60 against the previous close of Rs 327.95 The stock has a 52-week high of Rs 422.65 hit on August 25 2025. The 30-share BSE Sensex surged 534.80 points or 0.67 per cent to 80344.45. The 50-share NSE Nifty went up by 192.50 points or 78 per cent to 24619.30.