Dixon's arm Padget Electronics Pvt Ltd enters into agreement with Xiaomi for manufacturing of Smart Phones

Dixon wholly owned subsidiary- Padget Electronics Private Limited enters into an Agreement with Xiaomi to carry out manufacturing of smart phones and other related products for Xiaomi. The manufacturing shall take place at Padget's manufacturing facility situated at Noida.

Commenting on this association, Mr. Atul B. Lall, Vice Chairman & Managing Director, Dixon Technologies (India) Limited said that "it gives us an immense pleasure to partner with Xiaomi which is an iconic brand. We are delighted and encouraged by the trust they have reposed on Dixon for the association and believe that this association will leverage our excellence, superior execution track record and Xiaomi's expertise & leadership in Indian business ecosystem and it represents a major milestone in Indian Governments "Make in India" initiative.

We see them as an ideal strategic partner who shares our core values: quality, engineering, prowess and customer satisfaction. We are confident this is just a beginning of a long and prolific relationship and there is immense potential to further build on shared capabilities to deliver sustainable growth. He further stated that, "Dixon's wholly owned subsidiary, Padget Electronics is one of the few Companies who have received PLI scheme approval from the Government of India (GOI)."

Shares of Dixon Technologies (India) Limited was last trading in BSE at Rs. 5284.20 as compared to the previous close of Rs. 5096.10. The total number of shares traded during the day was 56930 in over 5103 trades.

The stock hit an intraday high of Rs. 5298.95 and intraday low of 5033.90. The net turnover during the day was Rs. 295157613.00.

Source : Equity Bulls

Keywords

DixonTechnologiesIndia INE935N01020 PadgetElectronics Agreement Xiaomi SmartPhones Manufacturing