Small-cap stock under ₹100: Multibagger SME stock jumps 5% after business expansion update

Cellecor Gadgets share price jumped nearly 5% on Wednesday after the company announced its business expansion plans. The small-cap stock rallied as much as 4.72% to a high of ₹64.25 apiece on the NSE.

The consumer electronics brands Cellecor Gadgets announced expansion with the launch of its first exclusive store in Bihar, located in Sasaram, and in Nanded, Maharashtra.

The Sasaram and Nanded outlets mark the brand’s sixth and seventh exclusive stores, following launches in Bhopal, Andaman and Nicobar Islands, Leh Ladakh, Delhi, and Mizoram.

“Bihar’s appliance market currently accounts for approximately 3% of the national market, with an estimated value of $2.33 billion. With the state’s projected population reaching 134 million in 2025, the demand for high-quality consumer electronics and appliances is on the rise,” Cellecor Gadgets said in a release.

Similarly, Maharashtra remains a key market for consumer electronics, with Nanded emerging as a crucial hub for expanding Cellecor’s offline presence. The new store in Nanded will cater to the region’s growing demand for premium electronic products and enhance Cellecor’s market penetration in the state, it added.

Maharashtra’s appliance market is estimated to be worth $5.8 billion, accounting for a significant share of the national market.

Cellecor offers a diverse range of products, including mobile phones, smart TVs, speakers, neckbands, TWS, soundbars, smartwatches, Washing Machines, and more.

Cellecor Gadgets Stock Price Trend

Cellecor Gadgets share price has rallied 9% in one week, but the small-cap stock has fallen over 11% in one month. In the past three months, Cellecor Gadgets shares gained 6%. The smallcap stock has delivered multibagger returns of more than 123% in one year.

At 12:25 PM, Cellecor Gadgets share price was trading 4.56% higher at ₹64.15 apiece on the NSE. 

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