The stock of electronics manufacturing services (EMS) major Dixon Technologies hit its all-time high at ₹16,840.25 a share on Monday. The country's largest EMS player was the highest gainer in the BSE 200 index, closing the day with gains of 6 per cent at ₹16,759.
The stock surged after the company announced that its wholly-owned subsidiary Padget Electronics, in partnership with Compal, has commenced mass production of Google Pixel smartphones for Google's Indian arm, Google Information Services India.
Commenting on the Google partnership, Siddhartha Bera and Kapil Singh of Nomura Research believe that while volumes are low, realisations are significantly better at ₹25,000-26,000 per unit for Pixel production than its current average realisation of ₹9,000 per unit.
Assuming a 60 per cent share of the business, this could potentially add around ₹1,500 crore in revenues, representing about 4 per cent of FY26 smartphone sales. However, analysts highlighted that the production ramp-up was likely to be gradual.
This story is from the December 03, 2024 edition of Business Standard.
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This story is from the December 03, 2024 edition of Business Standard.
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