Page 2 - Padget Electronics News Today

Dixon-owned Padget Electronics, a subsidiary of Dixon Technologies, has partnered with China-based ODM Longcheer for smartphone manufacturing for global brands. This collaboration aims to boost Indias manufacturing competitiveness and deliver sustainable growth. Learn more about this exciting partnership!

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Dixon Technologies anticipates commencing manufacturing operations for Lenovo in April 2024, , Dixon Technologies, lenovo, Padget Electronics

The companys shares, which saw a decline of almost 29% in CY22, have shown a remarkable rebound in the current year. They have rallied 68% in CY23 so far, spiking from ₹3,927 apiece to ₹6,605 apiece, and are up by 159% from their one-year low of ₹2,553 apiece.

Margins in the mobile and electronics manufacturing segment are low, but the company’s decision to increase the division’s contribution to overall revenue could boost volumes

The news triggered strong buying action in the stock as the price surged amid significant volumes. Over 12 lakh shares were trading on the NSE around 10:30 am.

Indian shares were seeing modest gains in cautious trade on Tuesday ahead of key U.S. inflation data later in the day and Wednesday's FOMC rate decision. The benchmark S&P BSE Sensex was up 35 points at 69,964 in early trade while the broader NSE Nifty index was up 30 points at 21,027.

Saurabh Gupta, Chief Financial Officer, Dixon Technologies said that for the next financial year the firm aims to capture at least 10-15% of Lenovos volume requirements for the Indian market

Foreign research firm Morgan Stanley has kept under-weight rating on the stock with target of Rs 4,374 per share.

Stocks to watch: Shares of firms like Infosys, Sun Pharma, Mankind, SpiceJet, Dixon, DLF, and others will be in focus on Tuesday's trade.