236% Gain From 52W Low: Multibagger FII-Backed Stock To Mull Stock Split Soon

On Friday, the shares of Cellecor Gadgets were trading 3 points higher on the NSE in early trade after the company declared that the Board of Directors will meet next week to consider and approve stock split. The stock reached a 52-week-high of Rs 355 on (28-Dec-2023) and a 52-week-low of Rs 88.15 on (28-Sep-2023), implying that the stock has gained over 236% from its 1 year low. Cellecor Gadgets is small-cap company with promoters stake of 51.54%, FIIs stake of 0.77%, DIIs stake of 3.91% and public shareholding of 43.78% as of March 2024.

"We wish to inform you that the meeting of the Board of Directors of the Company is scheduled to be held on Wednesday, 26th June 2024 at the Registered office of the Company situated at Unit No. 703, 7th Floor, Jaksons Crown Heights, Plot No. 3BI Twin District Centre, Sector 10 Rohini, Rithala, North West Delhi, Delhi-110085, inter-alia, to consider and approve the following businesses: i. the proposal for sub-division/split of Equity Shares of the Company having a face value of Rs. 10/- each in such manner as the Board may determine, subject to the approval of shareholders of the Company; ii. the alteration of capital clause of Memorandum of Association of the Company consequent to the sub-division of the face value of the equity shares, subject to the approval of shareholders of the Company," said Cellecor Gadgets in a stock exchange filing on Thursday.

"Pursuant to the "Code of Conduct for Practices and Procedures Fair Disclosure of Unpublished Price Sensitive Information (UPSI)", the "Trading Window" of the Company shall remain closed for trading in company's securities by Designated Persons, Connected Persons as defined in the aforesaid "Code of Conduct" and immediate relative thereof from 20th June 2024 till the end of 48 hours after the conclusion of the aforesaid meeting of the Board and declaration of outcome thereof," the company further informed to stock exchanges.

Cellecor Gadgets Limited recently widened its global operations by forming Cellecor Gadgets HK Limited, a new wholly-owned subsidiary in Hong Kong, on June 17, 2024. This strategic endeavour demonstrates the company's dedication to further developing its supply chain capabilities in line with its already declared growth blueprint. With Hong Kong's strong logistics and business-friendly environment, the new subsidiary will play a key role in Cellecor Gadgets' procurement of essential components and operational activities. The company is looking to optimise its supply chain efficiencies and fortify its competitive forefront in providing customers with innovative, high-quality, and reasonably priced products.

One of the major brands in India's consumer electronics sector is Cellecor Gadgets Ltd. Cellecor provides a wide variety of products, including washing machines, mixer-grinders, air conditioners, smart TVs, speakers, neckbands, TWS, soundbars, and smartwatches. The company's securities are listed under the Scrip Code CELLECOR on the NSE EMERGE (SME Platform of National Stock Exchange of India Limited) platform.