Dixon Technologies, an Indian electronics contract manufacturer, has emerged as India’s largest electronics contract manufacturer and is buying a majority stake in Ismartu India. The company has been consistently achieving Production-Linked Incentive (PLI) targets and is leading in mobile phone contract manufacturing. Indian consumer electronics manufacturers are also expanding exports to developed markets. Additionally, Chinese smartphone companies like Oppo, Vivo, and Realme are partnering with Dixon to benefit from the PLI scheme for phone manufacturing.
Electronics maker Dixon Technologies (India) is expecting a near-50% increase in revenue for the current fiscal year, driven by growth in its mobile phone business. The company’s MD, Atul Lall, stated that the mobile phone business is the largest trigger of growth for Dixon Technologies. The estimated revenue for the full year ending in March is 180 billion rupees ($2.16 billion), with approximately 40%-50% coming from the manufacturing and assembling of mobile phones and their accessories. This estimated full-year revenue is higher than the previous year’s reported revenue of 122 billion rupees.
Nifty formed a Doji candle on the daily chart, US stocks opened higher, FPIs emerged as net sellers for the third consecutive day, and Nifty Bank dropped over 4% in a week. Paytm announced its Q3 results with key highlights.
Indian equity indices opened higher for the second straight session on Thursday led by L&T, HDFC Bank and Reliance Industries. The S&P BSE Sensex was trading 145 points or 0.22% higher at 66,264. Nifty50 was trading at 19,755, up 39 points or 0.20% at around 9.16 a.m. Oil prices scaled one-year highs on Thursday, while world stocks eyed their longest losing streak in two years as worries deepened about persistently high interest rates, sending investors to shelter in the safety of a surging U.S. dollar.
