Cellecor Gadgets Shares Rally On Expanding Its Product Offerings

Shares of Cellecor Gadgets today surged as the company announced plans to expand its product offerings.
The company has announced the launch of an air conditioner range as it expands its offerings. The company said in an exchange filing that, "planning to introduce its new line of ACs, providing affordable comfort to its valued customers".To start with, Cellecor Air Conditioners will be available in two distinct capacities, precisely 1 and 1.5 tons and boast an array of impressive features, the statement said."Very soon Cellecor will be launching Window ACs as well and will be expanding the total ACs range with 12 to 15 models across categories," it further added.

Shares of Cellecor Gadgets were listed on the SME platform of NSE in September 2023 as the SME player raised Rs 50.77 crore via IPO route by selling its shares for Rs 92 apiece. The stock has surged about 240 per cent from its issue price so far.

Cellecor Gadgets, Incorporated in 2020, is engaged in the procurement, branding, and distribution of televisions, mobile phones, Smart Wearables, mobile accessories, smart watches, and neckbands. It has three business verticals- entertainment and communication, peripherals and modern accessories.

Cellecor Gadgets has more than 1200 service centers, and more than 800 distributors associated with it. Its products are also present at over 24,000 retail stores with more than 300 ranges of products and 100 million users across the country through offline and online channels.

On Wednesday, the shares of Cellecor Gadgets were trading 1.27% higher at Rs 228.10 apiece during the afternoon deals. The scrip 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).