Hot Stock: This electronics manufacturing company enters into an Agreement with Xiaomi!

The company manufactures parts and components for the leading India-based consumer electronics brand ‘BOAT’ owned by Aman Gupta.

Dixon's wholly-owned subsidiary- Padget Electronics Private Limited entered into an Agreement with Xiaomi to carry out the manufacturing of smartphones and other related products for Xiaomi. The manufacturing shall take place at Padget’s manufacturing facility situated in Noida.

Commenting on this association, Mr Atul B. Lall, Vice Chairman & Managing Director of Dixon Technologies (India) Limited said “It gives us an immense pleasure to partner with Xiaomi which is an iconic brand. We are delighted and encouraged by the trust they have reposed in Dixon for the association and believe that this association will leverage our excellence, superior execution track record and Xiaomi’s expertise & leadership in the Indian business ecosystem and it represents a major milestone in the Indian Government “Make in India” initiative.

We see them as an ideal strategic partner who shares our core values: quality, engineering, prowess and customer satisfaction. We are confident this is just the beginning of a long and prolific relationship and there is immense potential to further build on shared capabilities to deliver sustainable growth. He further stated that “Dixon’s wholly owned subsidiary, Padget Electronics is one of the few Companies who have received PLI scheme approval from the Government of India (GOI).”

Dixon Technologies (India) Limited is the largest homegrown design-focused solutions company engaged in manufacturing products in the consumer durables, lighting, and mobile phones markets in India. Dixon is a key player in India's growing electronics manufacturing sector. The company has a strong track record of growth and profitability, and it is well-positioned to benefit from the continued growth of the Indian consumer market.

Additionally, the company manufactures parts and components for the leading India-based consumer electronics brand ‘BOAT’ owned by Aman Gupta and Sameer Metha. BOAT markets earphones, headphones stereos, travel chargers, and premium rugged cables.

Today, shares of Dixon Technologies gained 1.10 per cent to Rs 5,279.95 per share. The stock made a new 52-week high of Rs 5,379.85 per share with a spurt in volume by more than 1.52 times on BSE on September 28, 2023.

The stock is up by 22 per cent in 3 months and over 90 per cent in 6 months. Investors should keep an eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.