- Dixon Technologies signed an agreement with Motorola Mobility LLC.
- The products will be manufactured at Padget’s production facility.
- Dixon Technologies (India) Limited is one of the leading home-based design-focused and solutions company.
Dixon is a contract producer in electronic goods. Its wholly-owned subsidiary, Padget Electronics Pvt Ltd., has recently signed an agreement with Motorola Mobility LLC to produce smartphones. Thus, pushing its shares up over 5%.
Dixon Technologies said in a regulatory filing, “The products will be manufactured at Padget’s manufacturing facility situated at Noida, Uttar Pradesh.”
Shares of Dixon Technologies were trading approximately 7.07% to hit an intraday high of INR 13,622 on the BSE after it notified stock exchanges that its subsidiary Padget Electronics had signed an agreement with Motorola Mobility LLC for producing smartphones.
Dixon Technologies (India) Limited is one of the leading home-based design-focused and solutions company involved in manufacturing goods in the consumer durables, lighting, and smartphones/mobile phones markets in India.
This year, Dixon Technologies shares have rallied nearly four times. As of 2:32 pm on December 28, 2020, Dixon Technologies stocks traded approximately 6.74% higher at INR 13,580, outpacing the Sensex, which was up 0.8%.
Atul B Lall, Managing Director and Vice Chairman at Dixon, commented: “With nearly a century of existence in the market, the legacy and standing of Motorola is unparalleled. To partner with them gives us immense pride as one must tick each box to be on their Board. We are honored to be associated with Motorola brand, and we aspire to take forward their legacy of high quality, commitment, ethics, and trust.”
Lall added: “Dixon’s wholly-owned subsidiary Padget Electronics is one of the few companies who recently received PLI scheme approval from Government of India. We, at Dixon, are committed to Government’s vision of making India an ‘Atmanirbhar Bharat’ and are confident that in backdrop of government’s schemes and initiatives to boost the electronics manufacturing sector, India will soon be a competitive destination globally.”