Small Cap Stocks Under ₹100: SME Player Hits All-Time High After Strategic Collaboration Update

Shares of Cellecor Gadgets rose 5 percent on Wednesday, September 17, to a record high after the company announced a strategic partnership with Hello Mobiles and Comexcell Technologies.

“Cellecor Gadgets Limited is delighted to announce two strategic partnerships to expand its market presence and distribution reach. The company has joined hands with Hello Mobiles Pvt Ltd to expand its retail footprint in Telangana and Andhra Pradesh and with Comexcell Technologies to expand its distribution network in Uttar Pradesh,” it said in a stock exchange filing.

Stock price trend

Shares rose 5 percent to a new high ₹54.9 in intraday trades today. It had a quiet debut on NSE SME on September 28, 2023, trading at IPO price ₹92.

The stock entered a correction after listing, falling more than 40 percent from its IPO price. However, in 2024, it is up more than 72 percent year to date.

In September alone, SME shares rose more than 62 percent, continuing their upward trend for four consecutive months. They gained 11 percent in August, 3 percent in July and 23 percent in June. Before that, shares fell 9 percent in May after a 35.5 percent gain in April. The first three months of the year were down, with losses of 29 percent in March, 2 percent in February and 9.5 percent in January.

Strategic cooperation

Cellecor Gadgets Limited announced two key partnerships to expand its market reach. The company has partnered with Hello Mobiles Pvt Ltd to increase its retail presence in Telangana and Andhra Pradesh, offering its product range across over 100 Happi Mobiles stores. The move was aimed at increasing customer access to Cellecor’s smart TVs, gadgets, mobile phones and home appliances.

Cellecor has also tied up with Comexcell Technologies to expand distribution in Uttar Pradesh. Comexcell’s massive network of 2,000 dealers would help streamline Cellecor’s regional reach, strengthening the company’s presence in the market.

Founded in 2012 by Ravi Agarwal, Cellecor Gadgets has grown into a major player in the consumer electronics market, offering a wide range of products at affordable prices. Cellecor Gadgets is known for its innovative technology and diverse range of products, including mobile phones, smart TVs, speakers, soundbars, washing machines and more.