52-week high alert: This multibagger SME stock reports a 100 per cent jump in net profit; scrip gains over 10 per cent!

The stock gave multibagger returns of 118 per cent from its 52-week low of Rs 88.15 per share.

Incorporated in 2020, Cellecor Gadgets Limited is engaged in the procurement, branding, and distribution of televisions, mobile phones, smart wearables, mobile accessories, smart watches, and neckbands.

The company announced its stellar half-yearly results. Here are the details:

The net sales increased by 85 per cent to Rs 209.66 crore, operating profit increased by 157 per cent to Rs 12.74 crore and net profit increased by 108 per cent to Rs 7.02 crore in H1FY24 compared to H1FY23.

According to annual results, the net sales increased by 118 per cent to Rs 264 crore and net profit increased by 300 per cent to Rs 8 crore in FY23 compared to FY22.

Earlier, Cellecor announced Bollywood Actor Varun Dhawan as the brand ambassador for its new line of cutting-edge Smart TVs. This collaboration not only bridges the gap between entertainment and technology but also marks a new chapter in Cellecor's mission to redefine home entertainment. With the addition of Varun Dhawan, a popular and influential celebrity, Cellecor is poised to take its Smart TV offerings to the next level and reach a wider audience.

The company IPO was launched just a few weeks ago and falls under the SME segment with a lot size of 1,200 shares.

On Wednesday, shares of the company gained 10 per cent to Rs 188 per share with an intraday high of Rs 192 and an intraday low of Rs 171. (As of October 23, 2023’s closing price, the lot of 1,200 shares is worth Rs 2,25,600). The stock gave multibagger returns of 118 per cent from its 52-week low of Rs 88.15 per share. The stock also made a new 52-week high of Rs 192 per share and investors should keep an eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.