10:1 Stock Split: Multibagger consumer electronics company expands presence with 2 more new Exclusive Brand Stores in Mizoram and New Delhi; details inside!
The Board fixed the record date for the stock split as Friday, August 09, 2024.
Today, shares of Cellecor Gadgets Limited gained 3.2 per cent to Rs 290 per share from its previous closing of Rs 281. The stock gave multibagger returns of 229 per cent from its 52-week low of Rs 88.15 per share.
Cellecor Gadgets Limited, a trailblazer in India's consumer durables sector, announces the opening of two new Exclusive Brand Stores in Mizoram and New Delhi. These openings mark a significant stride in Cellecor's commitment to embracing diverse markets, expanding its reach into key regions and reflecting its commitment to accessibility, quality, and innovation across varied markets.
The Mizoram Exclusive Brand Store extends Cellecor's footprint to India's northeastern border, bridging geographical gaps to offer state-of-the-art consumer electronics. This expansion underscores the company's dedication to meeting the diverse needs of consumers nation-wide, while fostering local entrepreneurship through its franchise-based model.
While opening of an Exclusive Brand Store in New Delhi represents Cellecor strategic shift towards urban markets, particularly catering to the dynamic preferences of the youth demographic. This move not only enhances Cellecor's visibility in a bustling metro but also sets the stage for the introduction of its upcoming trend-setting Premium Brand, anticipated to redefine luxury and technological sophistication.
With the addition of these new stores, Cellecor now operates four Exclusive Brand Stores nationwide, offering a curated range of consumer electronics including Mobiles, Smart TVs, Washing Machines, Kitchen Appliances, Smart Wearables, and Hearables. Each store showcases exclusive products and limited-edition items, reflecting Cellecor's dedication to providing innovative and desirable solutions to consumers. Looking ahead, Cellecor Gadgets Ltd is actively engaged in discussions with multiple franchises to further expand its Exclusive Brand Store footprint. The company plans to open approximately 16 additional stores across various cities in India in a phased manner, ensuring strategic growth and reinforcing its commitment to serving diverse markets.
Additionally, Cellecor Gadgets Ltd informed that the Board of Directors of the Company has announced a stock split in the ratio 10:1 i.e., sub-division of 1 equity share of the company having a face value of Rs 10 each into 10 equity shares of the company having a face value of Re 1. The Board fixed the record date for the stock split as Friday, August 09, 2024.
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About the company
Cellecor Gadgets Ltd, founded in 2010, is an Indian company that sells consumer electronics under its brand name. They focus on providing affordable options for a wide range of devices including smart TVs, mobile phones, smartwatches, earphones, and various accessories. Cellecor outsources the manufacturing of these products and then distributes them through a network of over 900 distributors, 25,000 retailers, and 1200 service centres across 28 Indian states, with a strong presence in Uttar Pradesh, West Bengal, and Gujarat.
The shares of the company have an ROE of 117 per cent and an ROCE of 84 per cent. As of March 2024, the promoters of the company own a 51.54 per cent stake, FIIs own 0.77 per cent, DIIs own 3.91 per cent and the rest 43.78 per cent is owned by the public.
Disclaimer: The article is for informational purposes only and not investment advice.
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