Dixon Tech stock hits a 52-week high after its subsidiary Padget Electronics ties up with Xiaomi

Dixon Tech Share Price: Shares of Noida-based company Dixon Tech hit a 52-week high of Rs 5,379.85 each on Thursday (September 28) but ended 1.01 per cent lower, or Rs 53.20, at Rs 5,231 at market close, a day after the tech firm's wholly  owned subsidiary- Padget Electronics- entered into an agreement with Chinese mobile giant Xiaomi for the manufacturing and supply of smart phones and related products.

"We wish to inform that Padget Electronics Private Limited, wholly owned subsidiary of Dixon Technologies (India) Limited, has entered into an agreement with Xiaomi Technology India Private Limited for the manufacturing of smart phones and other related products for Xiaomi. The said manufacturing will take place from Padget’s manufacturing facility situated at Noida, Uttar Pradesh," Dixon Tech said in a BSE filing. 

Performance of Dixon Tech Stock

The rally on Thursday has helped the Dixon Tech stock jump 7.71 per cent in the last five trade sessions.

The share's value has nearly doubled in the last six months with a rise of 87.09 per cent.

It has outperformed the benchmark Nifty 50 as the index has declined 1.17 per cent in the last five sessions, while it has soared 14.30 per cent in the last six months.