From Rs 8.82 to Rs 49.50 per share in just 1 year: Multibagger penny stock hit upper circuit on September 11; Board to raise funds for business growth!
The stock gave multibagger returns of over 450 per cent from its 52-week low of Rs 8.82 per share in just 1 year.
Today, shares of Cellecor Gadgets Limited hit a 5 per cent upper circuit to an intraday high of Rs 49.50 per share from its previous closing of Rs 47.15. The stock’s 52-week high is Rs 52.05 per share and its 52-week low is Rs 8.82 per share. The stock gave multibagger returns of over 450 per cent from its 52-week low of Rs 8.82 per share in just 1 year. At 10:15 am; the stock was trading at Rs 47 per share, down 0.32 per cent.
Recently, Cellecor Gadgets Limited has announced plans to raise a substantial amount of funds through the issuance of securities on a preferential basis. This strategic move aims to bolster the company's business growth and secure long-term financial resources. The proposed fundraising, subject to regulatory approvals, involves the allotment of equity shares to designated foreign institutional investors and strategic investors, as well as the issuance of warrants to a member of the promoter group. These warrants can be converted into equity shares at a premium price, further enhancing the company's capital base.
In addition to the fundraising initiative, Cellecor Gadgets Limited has formed a strategic partnership with PG Electroplast Limited. This collaboration will enable Cellecor to expand its product portfolio by leveraging PG Electroplast's expertise in manufacturing electronics components. PG Electroplast's state-of-the-art facilities and proven track record in ODM, OEM, and plastic injection moulding will ensure efficient production and superior quality for Cellecor's new range of air conditioners and coolers. This partnership aligns with both companies' commitment to innovation and customer satisfaction and is expected to drive significant growth in the home appliances industry.
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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 various devices, including smart TVs, mobile phones, smart watches, 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.
stock split: The shares of the company ex-traded 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 record date for the stock split was Friday, August 09, 2024.
The company's shares have an ROE of 117 per cent and an ROCE of 84 per cent. As of March 2024, the promoters own 51.54 per cent of the company, FIIs own 0.77 per cent, DIIs own 3.91 per cent and the public owns 43.78 per cent.
Disclaimer: The article is for informational purposes only and not investment advice.
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