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Share prices of Dixon Tech gains more than 9% after deal with boAt

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News24

LAST UPDATED: Jan. 7, 2021, 6:04 p.m.

New Delhi (Anish Yande): Dixon Technologies Limited, the electronics manufacturer has recorded a rise in its share prices. The share prices of the company rose by more than 9% in trading on Thursday. The share price of the company hit a record high of Rs 15,843.95 on the BSE. 

Share prices of Dixon Technologies have risen by more than 250 percent in 2020. 

Dixon Technologies signs agreement with boAt:

The rise in share prices of the company comes after the company announced its agreement with Imagine Marketing.  Imagine Marketing is the company that operates and owns the ‘boAt’ brand. boAt manufactures a popular series of headphones and wearable gadgets. 

Dixon Technologies has partnered with boAt to manufacture a new series of twin wireless speakers.

Dixon Technologies Limited is an electronics manufacturer based in Noida. The company is a contract manufacturer of washing machines, television sets, LED bulbs, smartphones, CCTV security systems, and other products. Tech firms such as Xiaomi, Panasonic, Philip, and Samsung manufacture products and parts for their products through Dixon Technologies.

In a statement, Dixon Technologies stated that ‘Dixon Technologies (India) Limited and boAt have agreed to manufacture of twin wireless speakers.’

Dixon Tech to manufacture wireless speakers with boAt:

The company would be manufacturing twin wireless speakers at the manufacturing unit in Noida, Uttar Pradesh.

Dixon Technologies termed boAt as a leader in the earwear segment. The Vice Chairman & Managing Director of Dixon Technologies, Atul B. Lall, appreciated boAt’s audio devices for ‘style and efficiency.’ 

‘Dixon Group is committed to having a pivotal impact in making India an ‘Atmanirbhar Bharat’ backed by our commitment and performance,’ he said. 

The company’s wholly-owned subsidiary, Padget Electronics, had recently received a production linked incentive scheme from the Indian Government. Padget Electronics had also entered into a deal with Motorola for manufacturing smartphones. 

Under the deal, the company would be manufacturing smartphones in the manufacturing unit at Noida.

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