Multibagger RETURN of 526%: Cellecor Gadgets shares hit 52-week high on new partnerships – Markets –
Updated Sep 17, 2024 15:12 IST
Cellecor Gadgets shares scale to new 52-week high (Pic: Shutterstock/ET NOW)
Cellecor Gadgets Share Price Today: Shares of consumer electronics company Cellecor Gadgets on Tuesday climbed to a new 52-week high on the back of announcing new collaborations. The stock opened opened with a sharp gain of 5 per cent at Rs 57.60 — its new 52-week high.
Around 3 PM, the smallcap stock traded near day’s high at Rs 57.25 apiece with 23.52 lakh equities changing hands.
Cellecor Gadgets shares are gaining for the past 5 sessions, yielding a return of around 20 per cent. The counter is trading higher than 5-day, 20-day, 50-day, 100-day and 200-day moving averages.
Cellecor Gadgets Announces New Partnerships
Today’s rally in the stock came after the company announced about two new collaborations to expand its market presence in the Uttar Pradesh and Telangana. According to a regulatory filing, the company has partnered with Hello Mobiles Private Limited to expand its retail presence in Telangana and Andhra Pradesh and with Comexcell Technologies to enhance its distribution network in Uttar Pradesh.
“These collaborations will play a vital role in advancing Cellecor’s growth strategy by streamlining logistics, improving distribution efficiency, and increasing market penetration. We are confident that these partnerships will significantly strengthen Cellecor’s position in these key markets,” the filing read.
Cellecor Gadgets IPO, Share Price History
Cellecor Gadgets, incorporated in 2020, is engaged in the procurement, branding and distribution of electronics and consumer durables goods. The firm had launched IPO in September 2023 and issued shares at Rs 92 apiece. The public issue was a big success as its shares delivered multibagger returns on listing.
Back in August this year, the Delhi-based company announced to split the face value of each share into 10 shares. It means that each stock having a face value of Rs 10 was split into 10 shares of Re 1 each. Post split, the market price of the stock was adjusted into the ratio of sub-division, meaning each share became cheaper by 10 times.
As per exchange data, Cellecor Gadgets shares have rallied 70 per cent in the last one month. The counter has yielded an exuberant return of 526 per cent in the last one year.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
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