Shares of Cellecor Gadgets Surged 10%; Here's Why

Amid the fluctuations in the stock market on Monday, shares of Delhi-based gadget selling company Cellecor Gadgets Limited were witnessing a surge of about ten percent and were trading at the level of Rs 310. Cellecor Gadgets Limited is a Delhi-based gadget selling company with a market cap of Rs 640 crore, whose shares have a 52-week high of Rs 355 and a 52-week low of Rs 88. Cellecor Gadget shares have given investors a return of more than 350 percent from the 52-week low. A decision on the issue of sub-division and split of equity shares is to be taken in the board meeting next week.

The shares of Cellecor Gadgets Limited have risen 43 percent in the last 3 months, while it has given a return of 17 percent in the last one month and a return of 26 percent in the last one week. Cellecor Gadgets has informed the stock market that the company's board is going to meet on June 26 in which a decision is to be taken on the issue of subdivision and split of equity shares. The company's shares with a face value of Rs 10 are being split.

Recently, Cellecor Gadgets has informed the stock market that it has joined hands with BLS E Services to expand its distribution network. The company is planning to sell Cellecor smart TVs, phones and smartphones etc. in collaboration with BLS E Services.

Delhi-based gadget selling company Cellecor Gadgets has decided to launch a trend setting premium brand to elevate the lifestyle of the youth. These premium products of Cellecor Gadgets include smart TVs, smart watches, earbuds and smartphones etc. The company has said that the tech industry is moving towards AI and Internet of Things, in view of which the company has decided to launch a premium brand.

Shares of Cellecor Gadgets were listed at the SME platform of NSE in September 2023 as the SME player raised Rs 50.77 crore via IPO route by selling its shares for Rs 92 apiece. The stock has surged about 240 per cent from its issue price so far.

Cellucor Gadgets, Incorporated in 2020, is engaged in the procurement, branding, and distribution of televisions, mobile phones, Smart Wearables, mobile accessories, smart watches, and neckbands. It has three business verticals- entertainment and communication, peripherals and modern accessories.

Cellucor Gadgets has more than 1200 service centers, and more than 800 distributors associated with it. Its products are also present at over 24,000 retail stores with more than 300 ranges of products and 100 million users across the country through offline and online channels.