Dixon Technologies Stock Soars 3% Following Strategic Partnership with Cellecor for Fridge Production

Shares of Dixon Technologies jumped more than 3% on Friday, reaching Rs 18,574 on BSE as the firm’s entirely-owned subsidiary Dixon Electro Manufacturing entered into an MOU with Cellecor Gadgets to produce refrigerators and additional components for the latter.

“In accordance with Regulation 30 in conjunction with Schedule III of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015, we would like to inform that Dixon Electro Manufacturing Private Limited, a wholly-owned subsidiary of Dixon Technologies (India) Limited has signed an MOU with Cellecor Gadgets Limited (“Cellecor”) to manufacture Refrigerators and related components for Cellecor,” stated the company’s submission to the stock exchanges.

Cellecor is a prominent name in the consumer electronics sector, recognized for its innovative and advanced technology. The company provides a wide variety of products, including mobile phones, smart TVs, soundbars, smartwatches, kitchen appliances, and home electronics.

“We are thrilled to announce that Dixon Electro Manufacturing has entered into an MOU with Cellecor for the production of Refrigerators and its related components. Through this collaboration, Dixon Electro Manufacturing will expand its clientele in the Refrigerator market. Moreover, this partnership signifies a strategic achievement and devotion to the ‘Make in India’ initiative to meet the evolving preferences of Indian consumers,” remarked Atul B. Lall, Vice Chairman & Managing Director of Dixon Technologies during the event.

Also read: Mamata Machinery Share Price Live: Mamata Machinery Limited IPO to debut on D-Street today. Check GMP, Other Details

Dixon Technologies is the largest homegrown design-centric and solutions company involved in manufacturing products in the consumer durables, lighting, and mobile phone markets across India.

Dixon Technologies shares have provided remarkable returns of 179% over the past year and on a year-to-date foundation. In the last 6 months, the stock has increased by 58%, while it has grown by 27.75% over the past 3 months.

Shares of Dixon Technologies concluded 0.6% higher at Rs 1,810.25 on the BSE on Thursday.

(Disclaimer: The recommendations, suggestions, views, and opinions expressed by the experts are their own. These do not reflect the perspectives of the Economic Times)