Shares of Dixon Technologies (India) Ltd surged 3% on 27 December after the company’s wholly-owned subsidiary, Dixon Electro Manufacturing, announced signing a Memorandum of Understanding (MoU) with Cellecor Gadgets to manufacture refrigerators and associated components. 

Cellecor is a well-known brand in the consumer electronics industry and is known for its innovative and cutting-edge technologies. Cellecor sells a variety of products, including smartphones, smart TVs, soundbars, smartwatches, kitchen appliances, and home equipment like air conditioners, refrigerators, air coolers, geysers, and heaters.
 
Atul B. Lall, vice chairman and managing director of Dixon Technologies, said, “We are delighted to announce that Dixon Electro Manufacturing has entered into an MoU with Cellecor for manufacturing of Refrigerators and its related components. By this partnership, Dixon Electro Manufacturing will increase its customer base in the Refrigerator segment. Further, this partnership represents a strategic milestone and commitment to the ‘Make in India’ initiative and to cater to the evolving needs of Indian consumers.”

Dixon Technologies is a renowned domestic Indian company that focuses on design-driven manufacturing solutions for the consumer durables, lighting, and mobile phone industries. 

The company offers a wide range of products, including refrigerators, cell phones, wearables, wearables, LED TVs, washing machines, LED bulbs, tube lights, downlighters, and telecom and IT infrastructure.

In addition to production, Dixon Technologies provides reverse logistics services, including LED TV panel repair and refurbishment. 

At 2:53 pm, the shares of Dixon Technologies were trading 0.12% lower at Rs 18,016.50 on NSE.

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