FIIs bought 7,71,675 shares and 1500 per cent returns: This multibagger stock secures contract to manufacture laptops and notebooks with Lenovo in India!
Shares of the company gained more than 40 per cent in the last six months.
Dixon Technologies' subsidiary, Padget Electronics, has secured a major contract with global tech giant Lenovo to manufacture laptops and notebooks under the PLI 2.0 scheme. This collaboration is expected to significantly boost laptop and notebook production in India, creating new jobs and enhancing the competitiveness of Indian-made IT hardware on a global scale. The deal, subject to signing a definitive agreement, signifies a major development for Dixon, solidifying its position as a leading electronics manufacturer in India.
In addition to the Lenovo deal, Dixon Technologies reported a strong second quarter for FY24, with net sales growth of 27.84 per cent, operating profit increase of 37 per cent, and net profit growth of 42.53 per cent compared to the same quarter last year. These positive results demonstrate the company's continued strong performance and growth potential.
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Dixon Technologies is actively expanding its product portfolio and partnerships across various sectors. The company recently entered a joint venture with Imagine Marketing Private Limited to design and manufacture wireless audio solutions in India.
Additionally, it has received approvals under the PLI scheme for five segments, including mobile phones, lighting, telecom and networking products, inverter controller boards for air conditioners, and IT hardware. These initiatives further solidify Dixon's position as a leading player in the Indian electronics manufacturing industry.
The stock has also delivered multibagger returns in the last five years of over 1500 per cent. Steadview Capital Mauritius Limited has bought about 7,71,675 shares of the company. FIIs & DIIs have increased their stake in the company in September 2023.
Disclaimer: The article is for informational purposes only and not investment advice.
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