Dixon Technologies Stock On Record-high On MoU With Asus
Dixon Technologies’ wholly owned subsidiary, Padget Electronics enters into an MoU with Asus India for manufacturing of information technology products
The stock price of Dixon Technologies boomed over 6 per cent to its record-high of Rs 13,848 in the Monday trading session after the consumer durable manufacture’s wholly owned subsidiary, Padget entered into an memorandum of understanding (MoU) with Asus for manufacturing of notebooks.
Dixon Technologies stock traded at Rs 13,811 with 6 per cent gain on the National Stock Exchange (NSE). With this gain the stock’s year-to-date return stood at 110 per cent.
“We wish to inform you that Dixon Technologies’ (India) wholly owned subsidiary, Padget Electronics has entered into an MoU with Asus India for manufacturing of information technology products i.e. notebooks, subject to signing of definitive agreements with Asus' entities,” stated Dixon in an exchange filing.
Established in 1989, ASUS is known for the motherboards and personal computers, monitors, graphics cards, servers, routers, smartphones, optical storage, multimedia products, peripherals, wearables and other technology solutions.
"It gives us an immense pleasure to partner with iconic brand Asus for manufacturing notebooks. We are delighted and encouraged by the trust they have bestowed on Dixon for this collaboration. Asus has established a strong and trusted foothold worldwide, thanks to its advanced technology and we see them as our ideal long-term strategic partner who shares our core values,” said Atul B. Lall, Vice Chairman and Managing Director, Dixon Technologies.
