Cellecor Gadgets share price: share price reaches 10% UPPER CITCUIT – check the trigger key

Updated June 18, 2024 | 1:15 p.m. EST

Cellecor Gadgets Share Price: Cellecor Gadgets is a micro cap stock listed on the NSE. Its shares hit a 10 percent top line today as it plans to expand into overseas markets.

Cellecor Gadgets shares rose 10 percent today on the expansion announcement. (Photo: Shutterstock/ET NOW)

Cellecor Gadgets share price: : Shares listed on NSE Cellecor gadgets on Tuesday, it rose 10 percent to reach the upper circuit. The stock opened with a gain of around 3 per cent at Rs 242.95 per piece against its previous close of Rs 235.60.

The stock touched its intraday high price range of Rs 259.15 with 4.10 lakh shares changing hands. Trading on the counter was then stopped. Cellecor Gadgets stock is trading higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.

Cellecor Gadgets, founded in 2020, is primarily engaged in the sourcing, branding and distribution of electronics and consumer durables. In a stock exchange filing, the company said it is expanding its overseas operations by establishing a new wholly owned subsidiary in Hong Kong, which is often known as the gateway to Asia’s electronics industry.

The statement said the subsidiary Cellecor Gadgets HK Limited will act as the purchasing center for key components and operational activities of Cellecor Gadgets.

“We are excited to establish our wholly owned subsidiary in Hong Kong, which will enhance our ability to meet the evolving demands of the electronics and consumer durables markets. This expansion brings us closer to key suppliers and partners, reinforcing our commitment to operational excellence and customer satisfaction,” said Ravi Agarwal, Managing Director.

Cellecor Gadgets went public in September 2023. The company issued its shares at Rs 92 each in the primary market. Data shows that Cellecor Gadgets shares have delivered a solid return of 181% since listing. In December 2023, the company’s stock touched an all-time high of Rs.355.

According to the NSE website, the company has a market capitalization of Rs 542.65 crore as of June 18.

(Disclaimer: The above article is for informational purposes only and should not be considered as any kind of investment advice. ET NOW DIGITAL suggests its readers/audiences to consult their financial advisors before making any money related decisions.)