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Dixon gains 3% on starting production of Mi LED Tvs for Xiaomi

Shares of Dixon Technologies were trading 3% higher on Friday as the company commenced production of Mi LED TVs for Xiaomi.

“Dixon Technologies has commenced its local production of Mi LED TVs with Mi LED Smart TV 4A 80cm (32”) and Mi LED Smart TV 4A 180cm (43”) for now,” the company said in a press note to the exchanges on Thursday after market hours.

The company will manufacture these products at its Tirupati facility in Andhra Pradesh. Recently, the company has started producing Liquid Crystal module (LCM) line from the same facility.

“With Dixon’s manufacturing experience and Xiaomi’s innovative solutions, we are sure that the consumers are going to be immensely benefited,” said Sunil Vachani, Executive Chairman, Dixon Technologies (India).

Dixon Technologies (India) share price is currently trading at Rs2,560, up by Rs74.5 or 3% from its previous closing of Rs2,485.50 on the BSE.

The scrip has opened at Rs2,595. It has touched a high and low of Rs2,595 and Rs2,545, respectively. So far 10,193 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs2,814.85cr.

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