Dixon Electro Appliances, received approval under PLI scheme of Government of India

Dixon Electro Appliances Private Limited ("Dixon Electro"), a Wholly Owned Subsidiary Company of Dixon Technologies (India) Limited has received approval from Government of India under Production Linked Incentive Scheme for manufacturing of Telecom and Networking Products in India.

Commenting on this occasion, Mr. Atul B. Lall, Vice Chairman & Managing Director, Dixon Technologies (India) Ltd. said, "We are extremely happy to have received this approval from Government of India. This is the third PLI approval received by Dixon or its Group Companies and this wouldn't have been possible without the relentless hard work of our employees and the faith reposed by our investor family in this Group. Opportunities like PLI will definitely contribute in generating employment; reduce dependency on imports and thereby making India an 'Atmanirbhar Bharat'. We are glad and consider ourselves extremely fortunate to be made a part of opportunities like these by Government of India itself. Also, with this, Dixon will be venturing into a new segment of Telecom devices and we expect to begin production mainly for routers, modems and GPONs. With our expertise in manufacturing space and support of our anchor partner, we are confident about the deliverables in this new segment".

Shares of Dixon Technologies (India) Limited was last trading in BSE at Rs. 5514.90 as compared to the previous close of Rs. 5501.95. The total number of shares traded during the day was 23809 in over 4545 trades.

The stock hit an intraday high of Rs. 5648.80 and intraday low of 5490.00. The net turnover during the day was Rs. 132813062.00.

Source : Equity Bulls

Keywords

DixonTechnologiesIndia INE935N01020 ConsumerElectronics PLIScheme