In a related move, the company announced annual incentive trips for its top-performing dealers, retailers and salespeople.
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Cellucor Gadgets shares rose over 2 per cent on Tuesday even as equity benchmarks remained flat in highly volatile trade tracking weak global markets and fresh foreign fund outflows. The stock opened at Rs 300 and surged around 2.7 per cent to hit an intraday high of Rs 304.60. The stock had closed at Rs 296.55 on the NSE the previous day.
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On a related note, the company announced its annual incentive trip for top-performing agents, retailers and salespeople: this year, 500 elite members of the Cellecor network will embark on an exclusive international trip.
This year’s international event will feature a high-profile awards ceremony recognizing outstanding sales performance for 2023-24. The recognition is integral to Cellecor’s strategy to inspire continued excellence and foster an aspirational network.
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Additionally, Cellecor announced the launch schedule for its highly anticipated premium brand, “Evoke,” showcasing its entire product lineup for the first time. This announcement is not only exciting, but strategically positions Cellecor at the forefront of the industry, highlighting its innovative advantage and future direction.
The 30-stock BSE Sensex index rose 46.5 points to 81,402.34 at open. The NSE Nifty index rose 13.15 points to 24,849.25. However, both the benchmark indices were unchanged thereafter. PowerGrid Corporation, NTPC, Tata Motors, Asian Paints, Titan, Bajaj Finserv and Hindustan Unilever were the main gainers in the Sensex.
Losers included UltraTech Cement, Sun Pharmaceuticals, Mahindra & Mahindra, Tata Consultancy Services, Adani Ports and Special Economic Zone and Nestle India.In Asia, shares fell in Seoul, Tokyo, Shanghai and Hong Kong.The US market posted only modest gains and closed higher on Monday.
“Continued inflows into mutual funds and retail investor enthusiasm will keep the market resilient. High valuations remain a concern, particularly across the market. Currently, a healthy trend in the market is that high-quality stocks with favorable earnings outlook are gaining momentum with institutional buying.
“When stocks soar, there is a chance of an unexpected trigger leading to a market correction. Hence, investors should be a bit cautious about buying stocks now,” said VK Vijayakumar, chief investment strategist at Geojit Financial Services.
Market participants will be keenly watching Wednesday’s Federal Open Market Committee (FOMC) meeting and comments from Federal Reserve Chairman Jerome Powell for clues about a rate cut.
Brent crude, the global oil benchmark, fell 0.41% to $79.45 a barrel.
Published: July 30, 2024 11:36 AM IST
Updated: July 30, 2024 11:36 AM IST
