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Elitecon International shares jump 11% after SEBI-related banking update
The stock rose as much as 11.08% to ₹19.85 on the BSE after Kotak Mahindra Bank removed a lien or restriction on Elitecon’s account.
Elitecon International’s shares rose for a second straight session, gaining more than 11% on Monday despite broader weakness in the Indian market, according to LiveMint Markets.
The stock surged as much as 11.08% to ₹19.85 on the BSE after the company said it received an update on progress toward restoring its banking operations, tied to an ongoing Securities and Exchange Board of India, or SEBI, process.
LiveMint Markets reported that on July 16, 2026, SEBI informed Elitecon that clarification had been issued to the concerned banks in response to the company’s request, and that the company later received communication from Kotak Mahindra Bank about removal of a lien or restriction on its account.
Elitecon said the immediate priorities include restoring normal access to banking channels consistent with SEBI’s clarification, regularising legitimate business payments, and advancing financial reporting for FY 2025 to 26, while noting that SEBI’s March 30 interim order had restricted debits from related accounts.