Shares of this consumer electronics company jumped around 2 percent in Wednesday’s trading session after entering into a partnership with a company backed by Mr Ratan Tata. In three months the shares have delivered around 20 percent returns to its investors.
With a market capitalisation of Rs. 608 crores, shares of Cellecor Gadgets Ltd started Wednesday’s trading session on a higher note at Rs. 290 compared to its previous close of Rs. 286. During the trading session, the shares hit a high of Rs. 295, gaining around 2 percent and are currently trading at Rs. 290 apiece.
Such a positive movement in the share price was observed after the company in an exchange filing announced that Cellecor and CashKaro have forged a strategic partnership spanning 100 stores, introducing cutting-edge smart.
This partnership broadens the accessibility of Cellecor’s products, reaching from smallscale electronic stores to well-established retail chains, offering an extensive array of options for the latest technology.
Furthermore, the company mentioned that CashKaro’s extensive network of retailers provides customers with access to special discounts, cashback, and exclusive deals. By integrating Cellecor’s Smart TVs with advanced technology, consumers stay at the forefront of technological innovation while enjoying reductions on their purchases.
CashKaro, a platform specialising in cashback and discount offers, serves as the link connecting customers to a diverse range of merchants. Supported by the legendary entrepreneur Mr Ratan Tata, CashKaro solidifies its position as a choice for cost-conscious shoppers, merging savings with quality.
Coming onto the financial statement published by Cellecor Gadgets, the revenue zoomed by 118 percent from Rs. 121 crores during FY21-22 to Rs. 264 crores in FY22-23. In addition, the net profits magnified by 300 percent from Rs. 2 crores to Rs. 8 crores during the same timeframe.
Headquartered in Delhi, Cellecor Gadgets was incorporated in 2020, The company is engaged in the procurement, branding, and distribution of televisions, mobile phones, Smart Wearables, mobile accessories, smart watches, and neckbands.
Written By Vaibhav Patil
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
