The small-cap stock gained 3% to ₹894.95 apiece after the company signed a trademark license agreement with US-based gaming systems giant Cyberpower Inc.
At 2:55 p.m., Creative Newtech Ltd shares were trading at ₹865.50 per share, down 0.22 percent from the previous close price on the exchange. The company has a market capitalization of ₹1,208 crore.
According to the exchange filing, Creative Ecommerce Ventures Private, a wholly owned subsidiary of Creative Newtech Limited signed a trademark license agreement with US-based gaming systems giant Cyberpower Inc.
Through this agreement, Creative Ecommerce Ventures will get exclusive rights to manufacture and integrate gaming computers based on customized requirements.
As well as through the agreement, the Company will exclusively introduce CyberpowerPC products, including Gaming PCs, Gaming servers, regular and Gaming Laptops, Gaming accessories, PC and high-performance gaming components, audio products, VR and AR products and accessories, gaming chairs, RGB LED lights and merchandise.
Creative Newtech shares have gained 65 percent in the last six months and 70 percent in a year.
The company’s revenue has increased by 35 percent year on year, from ₹319 crore in Q2FY23 to ₹430 crore in Q2FY24. During the same period, Net profit has marginally increased from ₹ 9 crores to ₹10 crores.
Creative Newtech Limited is a leading market specialist in experiential products across IT, Gaming, Imaging, and Lifestyle domains.
Creative Newtech Limited also operates as a retail and e-commerce distribution company. The Company offers technology, lifestyle, imaging, and telecom products. The company has more than 3200 products.
The Company caters to the distribution of renowned brands such as AOC, GoPro, Honeywell, Olympus, Philips, Samsung, Transcend, Zeiss, Marvel, and Panasonic among others.
In the recent fiscal year, the company received a majority of revenue from IT peripheral products representing 51% followed by 34% from LifeStyle and security products.
Written by Omkar Chitnis
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