Dixon Technologies shares gain by ₹228 in early trade; here is why

2 min read | Updated on September 23, 2024, 09:57 IST

SUMMARY

Dixon Technologies share price NSE: The ambitious India-US joint project was announced following talks between Prime Minister Narendra Modi and US President Joe Biden in Wilmington on Saturday.

The project will be enabled by support from the India Semiconductor Mission

Dixon Technologies share price: Shares of Dixon Technologies rallied as much as 1.63%, or by ₹228 to ₹14,222.50 apiece, on the BSE on Monday, September 23, as, under a transformative collaboration with the US, India will get its first-ever national security semiconductor fabrication plant that will produce chips for use in military hardware in both countries as well as in critical telecommunication networks and electronics.

The ambitious India-US joint project was announced following talks between Prime Minister Narendra Modi and US President Joe Biden in Wilmington on Saturday.

The two leaders hailed the first-ever India-US semiconductor fabrication partnership as a "watershed arrangement," according to a joint fact sheet on Modi-Biden talks.

The project will be enabled by support from the India Semiconductor Mission and will be part of a strategic technology partnership among Bharat Semi, 3rdiTech, and the US Space Force.

It will not only become India's first, but one of the world's first multi-material fab for national security, PTI reported, quoting sources.

"President Biden and Prime Minister Modi hailed a watershed arrangement to establish a new semiconductor fabrication plant focused on advanced sensing, communication, and power electronics for national security, next-generation telecommunications, and green energy applications," the fact sheet noted.

It said the "fab, which will be established with the objective of manufacturing infrared, gallium nitride, and silicon carbide semiconductors, will be enabled by support from the India semiconductor mission as well as a strategic technology partnership between Bharat Semi, 3rdiTech, and the US Space Force."

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The Fab, to be known as 'Shakti', will focus on three essential pillars for modern warfighting—aadvanced sensing, advanced communications, and high-voltage power electronics, the people cited above said.

Dixon Technologies Q1 FY25 Results

Homegrown contract electronics manufacturer Dixon Technologies India reported a 108% growth in net profit in the first quarter of 2024-25, as compared to the corresponding quarter last year.

The profit increased from ₹67.19 crore to ₹139.70 crore in Q1 FY25. The revenue grew 101% from ₹3,271.50 crore in Q1 FY24 to ₹6,579.80 crore in Q1 FY25.

Earnings before interest, tax, depreciation, and amortisation (EBITDA) rose 90% from ₹135 crore to ₹256 crore year-on-year.

With inputs from PTI

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Dixon Technologies shares gain by ₹228 in early trade; here is why

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