This is to inform that Elitecon International Limited ('the Company') has received a disclosure under Regulation 7(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015, as ....
ELITECON · price
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Mr. Vipin Sharma, Promoter and Managing Director of Elitecon International Ltd, sold equity shares through on-market trades on BSE on three consecutive days: June 3 (1,06,200 shares for ~Rs 5.24 crore), June 4 (3,57,000 shares for ~Rs 18.49 crore), and June 5 (13,188 shares for ~Rs 71.73 lakh). Total shares sold: 4,76,388 for an aggregate value of roughly Rs 24.45 crore. His holding dropped from 1,69,07,500 shares (10.58%) to 1,64,31,112 shares (10.28%), a decline of 0.30 percentage points in promoter stake. The disclosure was filed under SEBI Insider Trading Regulations to report the continual change in promoter holding.
A promoter selling nearly Rs 25 crore worth of shares in just three days is a notable negative signal for retail investors, as it can put downward pressure on the stock and raise concerns about the promoter's confidence in the company. However, the stake reduction is small (~0.30%) and the promoter still retains a meaningful 10.28% holding.