Dixon Technologies shares in news today on MoU to make refrigerators

Shares of Dixon Technologies India Ltd are in news today after Dixon Electro Manufacturing, a wholly owned subsidiary of Dixon Technologies, inked a Memorandum of Understanding (MOU) with Cellecor Gadgets Limited for the manufacturing of refrigerators and related components.

Dixon Technologies shares closed 0.64% higher at Rs 18,010 on BSE on Thursday. Market cap of the multibagger stock stood at Rs 1.08 lakh crore. 

Turnover rose to Rs 12.93 crore as 7205 shares of the firm changed hands on BSE. In terms of technicals, the relative strength index (RSI) of Dixon Technologies stands at 63.1, signaling it's trading neither in the overbought nor in the oversold territory. Shares of Dixon Technologies are trading higher than the 5 day, 20 day, 30 day, 50 day, 100 day and 200 day moving averages. 

The multibagger stock has clocked stellar returns of 179% in a year and gained 179% in 2024. In two years, the stock is up 371.70%. 

Dixon Technologies reported a stellar set of earnings for the quarter ended September 2024. Net profit rose 265% year-on-year for the September 2024 quarter. Profit rose to Rs 412 crore on exceptional gain of Rs 209.6 crore and an increase in mobile phone production. Profit in Q2 of last fiscal stood at Rs 113.36 crore. Revenue rose 133% to Rs 11,534 crore in the July-September period compared to Rs 4,944 crore a year ago. Earnings before interest, tax, depreciation and amortization (EBIDTA) stood at Rs 420 crore, up 110 percent year-on-year.

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.