10:1 stock split & 585 per cent returns: Penny stock under Rs 65 to keep under radar as company acquires 100 per cent in Cellecor Foundation for CSR Activities
The stock gave multibagger returns of 585 per cent from its 52-week low of Rs 8.82 per share in just 1 year.
Cellecor Gadgets Limited, a pioneering name in the affordable electronics segment, announced that it has acquired Cellecor Foundation. To enhance its commitment to corporate social responsibility. This strategic decision underscores the company's dedication to giving back to society. By consolidating all social initiatives under this wholly-owned entity, Cellecor Gadgets aims to drive impactful change more effectively. This year, Cellecor aims to drive positive change with substantial investments in education, healthcare, and community development through its CSR initiatives.
Cellecor Gadgets Limited is committed to improving educational opportunities for disabled and underprivileged children as it believes that “Education is every child’s right”. The company will invest in providing essential resources, scholarships, and infrastructure support for children aged 3 to 16. Addressing the fundamental need for food, Cellecor will launch initiatives to distribute meals to underserved communities in rural India. The goal is to ensure that fewer individuals go to bed hungry, reinforcing the company's belief that access to necessities should be universal. This strategic move highlights the company’s dedication to societal welfare and sets a powerful example for corporate philanthropy.
DSIJ’s 'multibagger Pick’ service recommends well researched multibagger stocks with High Returns potential. If this interests you, do download the service details here.
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. On Wednesday, shares of Cellecor Gadgets Limited hit a 5 per cent upper circuit to an intraday high of Rs 60.45 per share from its previous closing of Rs 57.60. The stock also made a new 52-week high of Rs 60.45 per share and its 52-week low is Rs 8.82 per share. The stock gave multibagger returns of 585 per cent from its 52-week low of Rs 8.82 per share in just 1 year.
Disclaimer: The article is for informational purposes only and not investment advice.