The Indian stock market continued its upward trend, with the Sensex surging over 500 points and the Nifty 50 climbing back above the 26,154 mark. Amid this rally, NSE SME stock Cellecor Gadgets saw its share price rise around 2% in intra-day deals on Monday, December 22.
Cellecor Gadgets has announced plans to expand its international footprint by incorporating overseas subsidiaries. The company will set up a wholly owned subsidiary in the United Kingdom, subject to regulatory approvals, and a step-down subsidiary in Africa. This strategic expansion aims to accelerate the company's global growth and strengthen its presence across key international markets.
The company believes the UK and African regions are important growth markets. The overseas subsidiaries will strengthen Cellecor's market presence, improve its ability to serve international customers, and enhance global reach and brand visibility. This expansion is expected to create new opportunities for sustainable growth and long-term value creation.
Although the SME stock rose as much as 1.6% to its day's high of ₹30.35, it has been under pressure recently. The stock has lost over 50% in investor wealth in the last 1 year, 21% in the past 6 months, and 6% in the last 3 months. However, it has risen a little over 3% in the last 1 month.
Remember, this is a perspective, not a prediction. Please consult with an investment advisor before making any investment decisions.
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