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Dixon Tech is design-focused and solutions company engaged in manufacturing products in the consumer durables, lighting and mobile phones markets in India.
The company's 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.
Foreign research firm Morgan Stanley has kept under-weight rating on the stock with target of Rs 4,374 per share.
The company said the contract is subject to signing of definitive agreement in due course.
Twenty-seven companies have successfully obtained approvals under the Production Linked Incentive (PLI) scheme 2.0 in the IT hardware sector, Union Minister for Electronics and IT Ashwini Vaishnaw has announced.