Shares of Dixon Technologies saw a sharp fall today after news broke that the Ministry of Corporate Affairs (MCA) has asked the Serious Fraud Investigation Office (SFIO) to investigate major Chinese smartphone makers Vivo, Oppo, and Xiaomi. The investigation will look into alleged fund diversion by these companies, raising concerns across the Indian tech and electronics sector.
“SFIO is probing Vivo. Xiaomi and Oppo are also given to SFIO. Fund diversions have been alleged in the RoC report. Once the SFIO report is finalised, they will submit it to the MCA,” a government source told Moneycontrol.
Investors reacted quickly to the news, leading to a notable dip in Dixon’s stock. Market watchers will now be keeping a close eye on developments, as the probe could have broader implications for supply chains and partnerships involving Chinese smartphone brands in India.
Dixon shares saw trading activity today, with the stock opening at ₹15,900. The price fluctuated between a low of ₹15,593 and a high of ₹16,070 during the session. Over the past 52 weeks, Dixon’s shares have ranged from a low of ₹11,559.90 to a high of ₹19,148.90.
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