Dixon Technologies shares hit 52-week high on partnership with Xiaomi

Shares of Dixon Technologies (India) Ltd hit a fresh 52 week high today after its arm Padget Electronics inked an agreement with Xiaomi Technology India for manufacturing smartphones and other related electronic products. The phones will be manufactured in Padget's facility situated at Noida, Uttar Pradesh, according to a stock exchange filing. 

Shares of Dixon Tech hit a high of Rs 5379.85, rising 1.81% against the previous close of Rs 5284.20 on BSE. The stock of the electronic goods contract manufacturer Dixon Technologies shares opened higher at Rs 5334.95 today against the previous close of Rs 5284.20. The market cap of the consumer durables firm rose to Rs 31,791 crore. Total 9395 shares changed hands over the counter amounting to a turnover of Rs 5.02 crore.  

Commenting on this association, Atul B. Lall, Vice Chairman & Managing Director, Dixon Technologies (India) Limited said, “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.”  

In terms of technicals, the relative strength index (RSI) of Dixon Technologies stands at 66.2, signaling it's trading neither in the overbought nor in the oversold territory. Shares of Dixon Technologies are trading higher than the 10 day 20 day, 30 day, 50 day, 100 day and 200 day moving averages.     

Dixon Technologies (India) is the largest home-grown design-focused and solutions company engaged in contract manufacturing products in the consumer durables, lighting and mobile phones markets in India.  

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