Multibagger Stock: Dixon Technologies share price surges over 6% to touch 52-week high as firm to produce Google Pixel

Multibagger Stock: Dixon Technologies share price rose by more than 6% to touch a 52-week high during Monday's trading session after its wholly-owned subsidiary, Padget Electronics, announced plans to begin mass production of Google Pixel smartphones. This initiative is in collaboration with Compal Smart Device India, serving Compal's client, Google Information Services India.

Dixon Technologies share price today opened at ₹16,099.80 apiece on the BSE, the stock touched an intraday high of ₹16,819.45 and an intraday low of ₹16,020.80. According to Trendlyne data, Dixon Technologies share price increased by 178.29% over the past year, surpassing its sector by 85.76%.

According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, after a period of consolidation, Dixon Technologies share prices have broken a key hurdle zone around 16,000 and has re-entered uncharted territory, this positive momentum is likely to continue with prices expect to move towards 17,500 - 18,000 , the bullish gap left around 16,000 to now act as support.

"We together with our customer Compal Group, one of the world's leading manufacturers of smart devices, are excited to launch production of Google Pixel (Smart phones) for ‘Google Information Services India Private Limited’, a designated customer of Compal, a brand synonymous with innovation and excellence in technology.

This is a significant opportunity for Dixon and marks an exciting step in our growth and commitment to delivering cutting edge, high quality products to global and domestic market. Through this launch, Dixon shall be leveraging its state of the art facilities, effective manufacturing techniques and workforce and this also highlights the immense potential of India’s electronics manufacturing sector in global scenario,” said Atul B. Lall, Vice Chairman & Managing Director of the company.

Q2 Results

Dixon Technologies announced an impressive performance for the September 2024 quarter, reporting a consolidated net profit of ₹411.7 crore, which is over three times the net profit of ₹113.36 crore from the same period last year. This significant growth has been attributed largely to the strong performance of its Mobile and EMS Division.

In addition to the profit surge, the company's revenue from operations also saw a remarkable increase, doubling to ₹11,534.08 crore compared to ₹4,943.18 crore in the corresponding quarter of the previous year.

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