Cellecor Gadgets Soars on Upper Circuit Following Pact with Dixon Tech: A Hidden Gem Under ₹100!

Small-cap stock below ₹100: On Friday, December 27, shares of Cellecor Gadgets were locked in a 5% upper circuit. This surge was observed following the company’s agreement with a subsidiary of Dixon Technologies.

The goal of this collaboration is to enhance the portfolio of home appliances, which includes the manufacturing of premium quality refrigerators.

Cellecor Gadgets, a participant in the NSE Emerge index, informed the stock market via a filing on December 26 that it has partnered with Dixon Electro Manufacturing Private Limited (DEMPL).

DEMPL is a wholly owned subsidiary of Dixon Technologies that will manufacture refrigerators for Cellecor using its advanced manufacturing facilities and expertise.

The company stated that through this partnership, it plans to further strengthen its product portfolio and expand its presence in the home appliances market.

Stock Price Trend

Following the announcement of this partnership, the stock price of Cellecor Gadgets increased by 4.98%, reaching ₹64.25 per share, up from the previous closing price of ₹61.20. However, the shares are still trading 30% below the IPO price of ₹92.

The company’s stock was listed on the NSE SME platform on September 28, 2023. Over the last month, it has provided a return of 15% and has recorded an impressive 122% growth over the past year.

Cellecor Gadgets’ IPO was open from September 15 to September 20, 2023, and was subscribed 116.33 times.

Cellecor Gadgets’ Half-Yearly Performance

For the half-year ending September 2024, Cellecor Gadgets reported an operational income of ₹425.71 crores, compared to ₹209.65 crores in the same period last year, indicating a growth of 103%.

During the same period, the company’s profit after tax surged by 108.26% to ₹14.62 crores, compared to ₹7.02 crores last year.

Disclaimer: The opinions or suggestions expressed above are personal and not those of Mint, experts, or brokerage firms. Investors are advised to consult certified experts before making any investment decision.