The shares of Dixon Technologies (India) Ltd gave up initial gains and fell as much as 1.3 percent on Tuesday, a day after it said that the company had
signed an agreement with Google to sub-license rights relating to Android and Google TV to become the first contract maker in India.
The stock was trading 1.2 percent higher at Rs 4,153 on BSE at the time of writing. Mitessh Thakkar of earningwaves.com suggests buying Dixon for a target of Rs 4,325 with a stop loss of Rs 4,150. Technical Analyst Sudarshan Sukhani suggests selling the shares with a stop loss of Rs 4,110.
On the partnership with Google, Atul B Lall, Vice Chairman and Managing Director, Dixon Technologies, said, “Google is an iconic company and I am delighted and encouraged by the trust they have bestowed on Dixon. As the landscape for streaming grows, customer demands call for multiple choices, and Dixon’s product offerings are poised to answer such needs."
"This has been possible largely due to the company’s relentless focus on innovation, backward integration, large scale & strong relationship with national and international brands. This is in line with our effort to contribute to the “Make in India” initiative of the government,” he added.
Dixon Technologies Limited, a homegrown manufacturing company, was founded in 1993 and provides design-focused solutions in consumer durables, home appliances, lighting, mobile phones and security devices to customers across the globe, along with repairing and refurbishment services of a wide range of products including set-top boxes, mobile phones and LED TV panels.
