Cellecor Gadgets Shares Hit Upper Circuit As Company PAT Jumps 99 Percent
From the Sensex basket, Tech Mahindra jumped over 12.50 per cent after the IT services company’s CEO outlined an ambitious three-year roadmap to accelerate revenue growth and lift margins.
Share Market News: Shares of homegrown company Cellecor Gadgets hit upper circuit a day after company announced it Q4 results. The counter hit 5 per cet upper circuit of Rs 262.60 as soon as the trading session begin on Friday. Meanwhile, the company’s total revenue jumped by 89.33 per cent to Rs 500.52 crore in FY24 from Rs 264.35 crore in FY23. The organisation has set a target for revenue of Rs. 1000 crore.
The company’s EBITDA jumped by 135.93 per cent to Rs 29.65 crore from Rs 12.57 crore in FY23. According to Cellecor Gadgets, its net profit increased by 99.39 per cent to Rs 16.09 crore in FY24 from Rs 8.07 crore in FY23.
Meanwhile, Equity benchmark indices climbed in early trade on Friday, extending their rally for the sixth day running, on heavy buying in Tech Mahindra and firm trends in Asian markets. The 30-share BSE Sensex climbed 176.47 points to 74,515.91 in early trade. The NSE Nifty went up by 50.05 points to 22,620.40.
From the Sensex basket, Tech Mahindra jumped over 12.50 per cent after the IT services company’s CEO outlined an ambitious three-year roadmap to accelerate revenue growth and lift margins. In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading in the positive territory.Wall Street ended lower on Thursday.
Global oil benchmark Brent crude climbed 0.33 per cent to USD 89.30 a barrel. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,823.33 crore on Thursday, according to exchange data.
The BSE benchmark climbed 486.50 points or 0.66 per cent to settle at 74,339.44 on Thursday. The NSE Nifty advanced 167.95 points or 0.75 per cent to 22,570.35.
