Shares of Dixon Technologies (India) moved higher by 4 per cent to Rs 15,180, bouncing back 8 per cent from the day s low of Rs 14,090, on the BSE on Thursday after the consumer electronics company announced stock split plan.
Dixon Technologies on Thursday said its board is scheduled to meet on February 2, to consider sub-division of equity shares of the company from Rs 10 paid-up to in such manner as may be determined by the board of directors. The board will also to consider and approve unaudited financial results of the Company for the quarter ended December 31, 2020, it said. Generally, a company plans to go for a stock split to make the shares more affordable for small retail investors and increase liquidity. In the past one year, the stock of Dixon Technologies has rallied 251 per cent as compared to an 18-per cent rise in the S&P BSE Sensex. In past six months, it surged 129 per cent, against 38 per cent gain in the benchmark index. The stock hit an all-time high of Rs 16,
Stocks To Watch: Dixon Technologies, Sobha Ltd, Lupin, Bandhan Bank, NMDC The domestic stock markets are likely to open in the green after a day s paused due to positive cues from across the global markets.
Updated: January 07, 2021 10:03 pm IST
The domestic stock markets are likely to open in the green after a day s paused due to positive cues from across the global markets. Asian markets are looking up in early trading, Wall Street had a firm closing and early trends on SGX Nifty indicate a positive opening for the index in India, with a 74-points gain. At 7:30 am, the Nifty futures were trading at 14,254, higher by 74 points or 0.67 per cent on the Singapore Stock Exchange.
Dixon Technologies (India) shares traded 5 per cent higher at Rs 15,214, also their fresh record high, on the BSE on Thursday after the company announced that it has entered into an agreement with Imagine Marketing Private Limited (boAt) for manufacturing of Twin Wireless Speakers. Dixon shall be manufacturing the said products from its manufacturing facility located at Noida, Uttar Pradesh. boAt is the leader in the earwear segment. Their high quality audio devices are known for their style and efficiency. On December 28, the company’s wholly-owned subsidiary Padget Electronics entered into an agreement with Motorola for manufacturing of smartphones. The products will be manufactured at Padget s manufacturing facility situated at Noida, Uttar Pradesh, the company said.
Technuter
boAt (Imagine Marketing Private Limited) has raised approximately $100 million from an affiliate of Warburg Pincus, a leading global private equity fund focused on growth investing. This investment is a landmark deal for the direct-to-consumer (D2C) industry in India as it endorses the sector’s coming of age with consumers trusting and gravitating towards brands launched online.
The investment by Warburg Pincus will enable the company to further fortify its leading market position, widen its R&D capabilities and product portfolio, and build on boAt’s efforts to create and support a manufacturing ecosystem under the Make-in-India initiative, enabling the manufacture of products in India.