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Dixon Technologies inches up on entering into JV agreement with Imagine Marketing
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Dixon Technologies (India) is currently trading at Rs. 5390.05, up by 3.80 points or 0.07% from its previous closing of Rs. 5386.25 on the BSE.
The scrip opened at Rs. 5410.00 and has touched a high and low of Rs. 5439.80 and Rs. 5325.00 respectively. So far 3838 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 6240.00 on 19-Oct-2021 and a 52 week low of Rs. 2689.63 on 22-Jan-2021.
Last one week high and low of the scrip stood at Rs. 5439.80 and Rs. 5237.00 respectively. The current market cap of the company is Rs. 31856.23 crore.
The promoters holding in the company stood at 34.52%, while Institutions and Non-Institutions held 26.11% and 39.37% respectively.
Dixon Technologies has entered into Joint Venture Agreement (JV Agreement) with Imagine Marketing for its brand ‘boAt’. Pursuant to the said JV Agreement, the proposed JV Company will be 50% owned by Dixon and 50% owned by Imagine. The proposed JV Company will undertake design & manufacturing of Wireless Audio Solutions in India & the JV partners will co-invest in the evolving Indian mobile accessory market, thereby paving the way towards ‘Make in India’ in this category.
The association will enable the companies to meet the evolving needs of customers by delivering high-quality and aspirational lifestyle focused hearable solutions, backed by quality manufacturing and robust R&D. Imagine and Dixon are committed towards developing and supporting the manufacturing ecosystem in India.
Imagine’s understanding of the audio industry combined with Dixon’s manufacturing capabilities will facilitate a vibrant platform for electronics accessories design and manufacturing in India. With a focus on IP, product design, quality assurance and high-quality manufacturing, the joint venture is aimed at paving the way towards the ‘Make in India’ initiative.
Dixon Technologies (India) is the largest home grown design-focused and solutions company engaged in manufacturing products in the consumer durables, lighting and mobile phones markets in India.
