Dixon Applied sciences Board Approves Inventory Break up
The board of Dixon Applied sciences in the present day gave a go-ahead to inventory cut up beneath which the corporate will problem 5 shares for each one share held. The corporate knowledgeable BSE that the Board of Administrators of the Firm at its assembly held on February 02, 2021, intar alia, has thought-about and authorised the next busineses:
– The sub-division/ inventory cut up of current 1 (one) Fairness Share of face worth of Rs. 10/- every totally paid up into 5 (5) Fairness Shares of Rs. 2/- every totally paid up, topic to shareholders approval. For the sub-division of shares, the document date shall be mounted after getting approval for sub-division from shareholders through postal poll and will likely be communicated in the end, added Dixon.
The inventory cut up will “encourage wider participation of small traders and to reinforce the liquidity of the fairness shares on the inventory market”, added the corporate. Within the quarter ended December 31, 2020, the corporate’s revenues jumped 120% to Rs. 2,182 crore whereas web revenue surged to Rs. 62 crore, a soar of 134% compared to the identical interval final yr.
In Union Finances 2021, the federal government elevated customs obligation on cell phone elements similar to PCBA, digicam, connectors and again covers. That is constructive for home producers like Dixon Tech, Sure Securities mentioned.
Dixon Applied sciences is engaged in offering design-focused options and in addition carries out manufacturing of merchandise in client durables, lighting, dwelling home equipment cellphones and safety units. Up to now one yr, the scrip of Dixon Applied sciences has surged near 300 p.c on expectations that authorities’s manufacturing linked incentive (PLI) scheme will tremendously profit the corporate.
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