Shares of Dixon Technologies Ltd gained almost 2% on Monday, 20 January, after the company announced its plans to acquire land and assets of KHY Electronic India. 

In its regulatory filing, the company said that its subsidiary IsmartU has announced entering a binding Memorandum of Understanding (MoU) with KHY Electronics India, and thereby, the arm will acquire machinery, land and building, and other tangible assets of KHY for a total consideration of Rs 133 crore. 

The company also announced that the Board of Directors is set to meet on 20 January to consider and approve the unaudited financial results of the company for the quarter that ended 31 December. 

Earlier, the company announced that it was inking an MoU with Cellecor Gadgets to manufacture refrigerators and related components for Cellecor. 

Dixon Technologies is a leading Indian company specializing in design-driven manufacturing solutions across consumer durables, lighting, and mobile phone segments.

Its diverse product range features LED TVs, washing machines, LED bulbs, tube lights, downlighters, mobile phones, wearables, hearables, refrigerators, and telecom and IT hardware products.

Beyond manufacturing, Dixon Technologies also offers reverse logistics services, including the repair and refurbishment of LED TV panels.

At 12:04 pm, the shares of Dixon Tech were trading 1.28% higher at Rs 17,445.20 on NSE.

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