This Midcap Company Hit 52 Week High After Subsidiary Receives Nod Under PLI scheme

Dixon Technologies' stock rose 2.97 percent in early Monday trade after the electronics manufacturer announced it has begun producing 5G millimetre waves cellphones.

Dixon Electro Appliances Private Limited, a wholly-owned subsidiary of Dixon Technologies (India) Limited, has gained approval from the Government of India to manufacture telecom and networking products in India under the Production Linked Incentive Scheme.

"We are extremely happy to have received this approval from the Government of India. This is the third PLI approval received by Dixon or its Group Companies and this wouldn't have been possible without the relentless hard work of our employees and the faith reposed by our investor family in this Group.

Opportunities like PLI will definitely contribute in generating employment; reduce dependency on imports and thereby making India an 'Atmanirbhar Bharat'," Atul B. Lall, Vice Chairman & Managing Director, Dixon Technologies (India) Ltd said.

Dixon Technologies (India) Ltd., founded in 1993, is a Mid Cap business in the Consumer Durables category with a market cap of Rs 32,279.33 crore.

The stock returned 1051.55 percent over three years, compared to 92.3 percent for the Nifty Midcap 100. Over a three-year period, the stock returned 1051.55 percent, compared to 62.14 percent for the S&P BSE Capital Goods index.