Elitecon International shares climbed 4% in Monday's trading session on the National Stock Exchange, reaching an intraday high of ₹16.17.
The stock opened at ₹15.60, up from Friday's close of ₹15.55, as investors reacted to the company's announcement of a leadership revival move on July 27.
The positive reception follows a period of significant price volatility for the small-cap issuer.
Recent trading has seen the stock diverge sharply from broader Indian equity market trends, with previous sessions recording double-digit percentage swings.
The shares had previously jumped 11% to reach ₹19.85 on the Bombay Stock Exchange, only to reverse gains in subsequent trading.
The leadership changes aim to stabilize the company's direction amid market uncertainty.