Dixon Technologies has bright sparkle today; from its close of Rs.6372.15, the stock opened over 1% higher at Rs.6456.55 and went on further to hit a new 52-week high at Rs.6764, up over 6%. Volumes have more than doubled.
This is the second day of surge as the market continues to celebrate its announcement of yesterday.
The company said that its wholly-owned subsidiary, Padget Electronics Private Limited, has got a manufacturing contract from Lenovo for IT hardware products, i.e., laptops and notebooks, under the Production Linked Incentive 2.0 Scheme (“PLI"). This is subject to signing of a definitive agreement.
This apart, the company is going strong on its order for 15 million units of phones from Jio Bharat. It began production for the same in Sept’23.
The company is also likely to begin export of Nokia feature phones soon while its order book from Motorola in current fiscal stays good.