Celecor Gadgets shares rise 10%

According to the statement, the subsidiary, Cellecor Gadgets HK Limited, will act as the hub for the sourcing of critical components and business activities for Cellecor Gadgets.

Stock Market News: Shares of Selekor Gadgets surged 10 percent on Tuesday, hitting record highs. The stock opened at Rs 242.95 a share, up 3 percent. It had closed at Rs 235.60 in the last trading session. The stock subsequently rose to an intraday high of Rs 259.15.

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The surge in shares came after the company announced in a stock exchange filing that it would expand its overseas operations by establishing a new wholly-owned subsidiary in Hong Kong, well known as the gateway to Asia’s electronics industry.

According to the statement, the subsidiary, Cellecor Gadgets HK Limited, will act as the hub for the sourcing of critical components and business activities for Cellecor Gadgets.

“We are pleased to set up a wholly owned subsidiary in Hong Kong. This move will increase our ability to meet the evolving demands of the electronics and consumer durables markets. This expansion will enable us to forge closer relationships with key suppliers and partners, reinforcing our commitment to operational excellence and customer satisfaction,” said MD Ravi Agarwal.

Equity benchmarks Sensex and Nifty indexes hit fresh all-time highs in early trade on Tuesday, buoyed by firm global markets, buying in IT stocks and fresh foreign fund inflows. The 30-stock BSE Sensex index rose for the fourth consecutive trading day, climbing 334.03 points to hit a record high of 77,326.80.

The NSE Nifty rose 108.25 points to hit an all-time high of 23,573.85.Of the 30 Sensex constituents, Wipro, Titan, Mahindra & Mahindra, Tech Mahindra, Infosys, Bharti Airtel and Hindustan Unilever were the biggest gainers.