“Pursuant to Regulation 30 learn with Schedule III of SEBI (Itemizing Obligations and Disclosure Necessities), Laws, 2015, we want to inform that Dixon Electro Manufacturing Personal Restricted, Wholly Owned Subsidiary of Dixon Applied sciences (India) Restricted has entered into an MOU with Cellecor Devices Restricted (“Cellecor”) for manufacturing of Fridges and its associated parts for Cellecor,” mentioned the corporate’s submitting to the inventory exchanges.
Cellecor is a number one identify within the shopper electronics trade, recognized for its revolutionary and cutting-edge expertise. The corporate provides a various vary of merchandise encompassing cell phones, sensible TVs, soundbars, smartwatches, kitchen home equipment and residential home equipment.
“We’re delighted to announce that Dixon Electro Manufacturing has entered into an MOU with Cellecor for the manufacturing of Fridges and its associated parts. By this partnership, Dixon Electro Manufacturing will improve its buyer base within the Fridge phase. Additional, this partnership represents a strategic milestone and dedication to the ‘Make in India’ initiative and to cater to the evolving wants of Indian customers,” mentioned Atul B. Lall, Vice Chairman & Managing Director of Dixon Applied sciences whereas commenting on the event.
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Dixon Applied sciences is the biggest home-grown design-focused and options firm engaged in manufacturing merchandise within the shopper durables, lighting and cell phones markets in India.
Dixon Applied sciences shares have given whopping returns of 179% within the final one 12 months and on a year-to-date foundation. Within the final 6 months, the inventory has surged 58% whereas growing by 27.75% within the final 3 months.
Shares of Dixon Applied sciences closed 0.6% greater at Rs 1,810.25 on the BSE on Thursday.
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