Dixon's two Wholly Owned Subsidiaries received approval under PLI scheme of Government of India

Two wholly owned subsidiaries of Dixon Technologies (India) Limited ('Dixon')- Dixon Devices and Dixon Solutions have received approval from Government of India under Production Linked Incentive Scheme for manufacturing of White Goods (Air-conditioners and LEDs) components. Dixon Devices received approval to manufacture components of Air Conditioners. Under the said approval, Dixon Devices intends to manufacture Controlled assemblies for I.D.U, O.D.U or remotes. On the other hand, Dixon Solutions received approval to manufacture LEDs. Under the said approval, Dixon Solutions intends to manufacture LED lighting components.

Commenting on this occasion, Mr. Atul B. Lall, Vice Chairman & Managing Director, Dixon Technologies (India) Ltd. said, "This is an extremely happy moment for all of us at Dixon. The self-belief and confidence that we always had in the dynamics and roots of the Company, is now reaping results and that is what makes us really proud. Receiving all five PLI approvals from government against all of our applications is a massive feat in itself and we are conscious of the responsibility bestowed on us. These PLI approvals will contribute in building & strengthening the White Goods (Air- conditioners and LEDs) component manufacturing ecosystem in the country especially for critical components aligned to make in India initiative. This is part of our strategy to localize components in all verticals & I strongly feel that the local content will significantly increase in our products in next 2-3 years & we will have a large component ecosystem in the country."

Shares of Dixon Technologies (India) Limited was last trading in BSE at Rs. 5384.45 as compared to the previous close of Rs. 5456.10. The total number of shares traded during the day was 27720 in over 5866 trades.

The stock hit an intraday high of Rs. 5518.75 and intraday low of 5232.70. The net turnover during the day was Rs. 149049266.00.

Source : Equity Bulls

Keywords

DixonTechnologiesIndiaLimited INE935N01020 DIXON ConsumerElectronics PLIScheme Approval WhiteGoods