Small-cap SME stock jumps over 4% from intraday low; here’s why
Cellecor Gadgets share rallied over 2% on Monday, rebounding from its intraday low. The small-cap stock surged as much as 2.77% to an intraday high of ₹37 apiece on the NSE. Cellecor Gadgets shares have jumped 4.5% from its day’s low level.
The gains in Cellecor Gadgets share price came after the company announced that its promoters have completed their strategic stake sale initiative, divesting 88.95 lakh equity shares through open market transactions and raising approximately ₹35.35 crore with declared reinvestment of entire amount into the company to strengthen its financial position and fuel its ambitious growth plans.
The promoters initiated a stake sale compelled by business’s urgent capital requirements; however, the recent emergence of more strategically aligned financing avenues has enabled them to responsibly curtail any further divestment, the company said.
“This capital infusion will strengthen Cellecor’s balance sheet, reduce reliance on external debt, and enhance financial agility — enabling scalable operations, innovation, and market expansion,” Cellecor Gadgets said in a regulatory filing on July 7.
Following the completion of the stake sale, the promoters’ equity holding in Cellecor Gadgets stands at 46.3%.
“Our singular focus remains on building sustainable value and advancing toward growth, growth, and more growth. With strong investor interest and enhanced financial strength, we are well-positioned to accelerate growth without compromising our long-term vision,” said Ravi Agarwal, Managing Director and key promoter, Cellecor Gadgets.
Cellecor Gadgets Share Price Performance
Cellecor Gadgets share price has fallen 4.5% in one month, and has plunged more than 53% in six months. The small-cap stock has declined 44% on a year-to-date (YTD) basis. However, Cellecor Gadgets shares have gained 16% in the past one year.
At 1:50 PM, Cellecor Gadgets share price was trading 1.25% higher at ₹36.45 apiece on the NSE.
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