DBT Bureau
Bengaluru, 2 December 2024
Dixon Technologies has received favourable ratings from brokerage firms. Japanese brokerage firm, Nomura has mentioned a potential upside in the stock.
Reason for this upgrade is the company’s recent commencement of mass production of Google Pixel smartphones.
Last Friday, Dixon Tech announced a pact with Taiwanese original design maker Compal Electronics to produce Google Pixel smartphones in India.
Dixon is the second contract manufacturer for Google to start manufacturing Pixel phones in India. Foxconn subsidiary Wow Tech currently makes Google Pixel phones in its Chennai unit.
“This is a significant opportunity for Dixon and marks an exciting step in our growth and commitment to delivering cutting edge, high quality products to the global and domestic market,” Atul B Lall, Vice Chairman of Dixon Technologies has said in an exchange filing.
Dixon’s wholly owned subsidiary Padget Electronics will be making these high-end smartphones at its manufacturing facility in Noida.
Dixon Tech has a good run so far this year as the company cashes in opportunities arising from China plus one theme. The share price of Dixon Technologies has gained around 145% so far to hover around Rs 15,813 level. In last one month, the stock has moved around 10%.
