On Monday, India’s benchmark indices, the Nifty 50 and Sensex, retreated from record highs touched earlier in the session as concerns over foreign outflows overshadowed stronger-than-expected economic growth data.
The Indian rupee weakened to a lifetime low of 89.53 amid worries over sustained foreign selling and delays around the India–U.S. trade agreement, as foreign investors turned net sellers in November for the fourth time in five months.
Meanwhile, Elitecon International (EIL) share price hits the upper circuit, snapping a 4-day losing streak.
Minerva Ventures Fund, a Mauritius-based investment entity, has reported a significant acquisition in ELITECON INTERNATIONAL Limited under SEBI’s regulatory disclosure requirements. The filing, submitted on November 11, 2025, outlines the fund’s purchase of a substantial stake through a preferential allotment of warrants.
According to the disclosure, Minerva Ventures Fund is not part of the promoter or promoter group of the Target Company and made the acquisition on September 26, 2024.
The fund acquired 135,608,389 equity shares carrying voting rights through a warrants issue, representing 8.4835% of Elitecon International’s total share and diluted voting capital. This marks the fund’s first reported holding in the company, as its pre-acquisition stake stood at nil.
Following the transaction, Minerva Ventures Fund’s total holding rose to 135,608,389 shares, equivalent to 8.4835% of the company’s equity.
Elitecon International’s total equity share capital remained unchanged before and after the allotment. The company’s paid-up share capital stands at 1,598,500,000 equity shares, each with a face value of ₹10.
Elitecon International Limited (EIL), a company in the tobacco industry, has reported strong earnings for Q2 and H1FY26. For the quarter ended September 30, 2025, consolidated revenue from operations reached ₹2,192 crore, marking a 318% QoQ growth. PAT came in at ₹117.19 crore, up 62.58% QoQ. For H1FY26, revenue from operations was ₹3,735 crore, with PAT at ₹207.59 crore. EPS for the period stood at ₹1.30.
EIL recently acquired a 55% stake in Landsmill Agro Private Limited and a 51.65% stake in Sunbridge Agro Pvt Ltd for cash consideration. These acquisitions aim to strengthen EIL’s FMCG business vertical and consolidate its presence in agro products and allied activities. The company plans to acquire 100% equity in both companies within 12 months to enhance operational scale, product depth, and diversify revenue streams.
Elitecon International operates in manufacturing and trading a range of tobacco products, including cigarettes, smoking mixtures, and sheesha. The company exports to markets such as the UAE, Singapore, Hong Kong, the UK, and Europe. EIL is exploring expansion into new product categories like chewing tobacco, snuff, match lights, matches, and tobacco accessories to broaden its offerings.
On Monday, Elitecon International share price locked in the 5% upper circuit. The stock price has declined in recent times, with over 72% down from the 52-week high. In the last 12 months, the stock price has given massive returns of 1,244%.
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