Shares of Dixon Technologies in its continuing rum-up for five-trade sessions has surged to a record high price of Rs. 8935, rising as much as 4%. After today's gains, the m-cap of Dixon Technologies has also risen past Rs. 10000 crore mark.
The counter has been showing upward momentum on expectations of higher demand for consumer electronics.
Since the March lows, the stock has gained over 200% from its low of Rs. 2900 shares apiece.
"Rising manufacturing costs in other economies, growing labour costs in China & tendency by bigger original equipment manufacturer (OEMs) to outsource manufacturing instead of building their own infrastructure is driving growth of EMS market in India. More & more brands are going to focus on branding & distribution & manufacturing as part of the value chain will be outsourced," Dixon said in FY20-21 annual report.
The company is the leading manufacturing services (EMS) player producing an array of products in various segments.
At 12:35 pm, the stock traded higher by just 1.54% at Rs. 8709, paring early losses.