Shares of Dixon Technologies surged 3% in early trading on December 27 after the company announced that its wholly-owned subsidiary, Dixon Electro Manufacturing, has entered into a Memorandum of Understanding (MoU) with Cellecor Gadgets Limited to manufacture refrigerators and related components.
As of 9:18 am the shares were trading 2.47% higher at₹18,484.00 on NSE.
Key Details of the Partnership
- Partnership Objective: Manufacture of refrigerators and associated components for Cellecor Gadgets.
- Strategic Significance: Enhances Dixon Technologies’ footprint in the refrigerator segment, aligning with the Indian government’s ‘Make in India’ initiative.
About Cellecor Gadgets
Cellecor is a well-known consumer electronics brand offering a diverse product portfolio, including mobile phones, smart TVs, soundbars, and home appliances like washing machines and refrigerators. The partnership with Dixon Technologies signals Cellecor’s focus on expanding its product reach in the home appliances sector.
About Dixon Technologies
Dixon Technologies is a leading homegrown electronics solutions provider specializing in consumer durables, including LED TVs, washing machines, LED bulbs, and telecom hardware. This collaboration with Cellecor underscores Dixon’s commitment to addressing the evolving needs of Indian consumers and strengthening its position in the home appliances market.
