The subsidiary — Cellecor Gadgets HK Limited, will serve as a hub for Cellecor Gadgets’ procurement of critical components and operational activities, the statement said.

Share Market News: Shares of Cellecor Gadgets surged 10 per cent to hit the upper circuit on Tuesday. The stock opened in green with a gain of around 3 per cent at Rs 242.95 apiece. The counter had closed at Rs 235.60 in the last trading session. The stock went on to hit the day’s upper price band at Rs 259.15.

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The surge in price comes as the company has informed through an exchange filing that it is expanding its overseas operations by incorporating a new wholly-owned subsidiary in Hong Kong which is often known as a gateway to Asia’s electronics industry.

The subsidiary — Cellecor Gadgets HK Limited, will serve as a hub for Cellecor Gadgets’ procurement of critical components and operational activities, the statement said.

“We are excited to establish our wholly owned subsidiary in Hong Kong, a move that will enhance our ability to meet the evolving demands of the electronics and consumer durables goods market. This expansion positions us closer to key suppliers and partners, reinforcing our commitment to operational excellence and customer satisfaction,” Ravi Agarwal, MD, said.

Benchmark equity indices Sensex and Nifty hit their new all-time high levels in early trade on Tuesday helped by firm trends in global markets, buying in IT stocks and fresh foreign fund inflows.Rising for the fourth straight session, the 30-share BSE Sensex climbed 334.03 points to hit its fresh lifetime peak of 77,326.80.

The NSE Nifty went up by 108.25 points to hit its new all-time high of 23,573.85. Among the 30 Sensex companies, Wipro, Titan, Mahindra & Mahindra, Tech Mahindra, Infosys, Bharti Airtel and Hindustan Unilever were the biggest gainers.