Dixon Technologies shares hit new 52-week high, crosses Rs 10,000-crore in m-cap
Published On: Monday, September 7, 2020 | By: Team KnowMyStock
Dixon Technologies, the largest electronic manufacturing services gained 4 per cent on the BSE on Monday to hit a record high of Rs 8,935 on the expectation of higher demand for consumer electronics. The company's market capitalisation crossed Rs 10,000 crore today after five straight days of gains. The stock surpassed its previous high of Rs 8,822, touched on August 28, 2020, on the BSE. The stock has skyrocketed 267 per cent from its 52-week low of Rs 2,433.20, hit in September last year. Dixon is well placed to cater to the business proposition and is well equipped to serve the export markets in select categories. It further said, that set-top box is emerging to be a big category for Dixon with Rs 8 bn-10 bn revenue potential in FY22 with volumes of 800k-1,000k per month driven by RJio, Dish TV and Siti Cable. Dixon continues to lead the government’s self-dependence measures to manufacture consumer durables.
“We are constantly developing new products to meet end-user requirements. Being the largest manufacturer of TV sets in India, we expect to increase the production further by 40% in the coming fiscal, capturing almost 30% of the TV sets manufacturing market. Further, as brands look to reduce their refurbishment cost, more and more companies will outsource such operations to established players like us for addressing end-user queries,” said Abhijit Kotnis President said in an annual report of Dixon Technologies.
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