{"id":115746,"date":"2023-12-18T16:09:27","date_gmt":"2023-12-18T10:39:27","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=115746"},"modified":"2023-12-18T16:28:23","modified_gmt":"2023-12-18T10:58:23","slug":"midcap-stock-in-electronic-manufacturing-segment-falls-after-lic-sells-2-stake-in-the-company","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/midcap-stock-in-electronic-manufacturing-segment-falls-after-lic-sells-2-stake-in-the-company\/","title":{"rendered":"Midcap stock in electronic manufacturing segment falls after LIC sells 2% stake in the company"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2749196180\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The shares of leading electronic manufacturing services fell by 1.5 percent after Life Insurance Corporation decreased its shareholding from 5.012% to 3.000% of the paid-up capital in the company.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2019823443\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>With a market capitalization of Rs 37,534.87 Crores, The shares of Dixon Technologies (India) Ltd were trading at Rs 6,275.35 a share, a decrease of 0.64 percent from the previous closing price of Rs 6,315.85 a share.&nbsp;<\/p><p>The company filing states that Life Insurance Corporation&#8217;s equity shareholding in Dixon Technologies India Ltd. has dropped from 29,97,913 to 17,94,395 Equity Shares, representing a reduction from 5.012% to 3.000% of the company&#8217;s paid-up capital.&nbsp;<\/p><p>In addition to manufacturing and design-focused solutions for consumer durables, home appliances, lighting, mobile phones, security devices, set-top boxes, wearables, and medical equipment, Dixon is involved in the semiconductor industry.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-3587661982\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Looking into the company&#8217;s performance revenue increased by 27 percent from Rs 3,867 Crore in Q2FY23 to Rs 4,943 Crore in Q2FY24. During the same period, net profit increased by 46 percent from Rs 77 crore to Rs 113 Crore.&nbsp;<\/p><p>A new manufacturing facility with a 1.2 million direct cool refrigerator capacity is being built in Greater Noida in response to the growing demand for refrigerators. The company has gotten good feedback from both domestic and foreign brands and intends to produce DC refrigerators with multiple features in sizes ranging from 190 to 235 liters.&nbsp;<\/p><p>With a strong cash generation of Rs 726 crores from operations in FY 22\u201323, the company was able to fund capex of Rs 450 crores and reduce gross debt by Rs 275 crores, further strengthening the balance sheet with a Gross debt-to-equity ratio of just 0.19.&nbsp;<\/p><p>The company has grown from 9 manufacturing facilities offering products to 21 integrated facilities delivering products across multiple segments.&nbsp;<\/p><p>Dixon Technologies (India) Ltd is the largest home-grown design-focused solution engaged in manufacturing goods for the consumer durables, lighting, and mobile\/smartphone industries in India.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by:- Abhishek Singh<\/strong><\/p><\/blockquote><div class=\"trade-after-content\" id=\"trade-3751136746\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The shares of leading electronic manufacturing services fell by 1.5 percent after Life Insurance Corporation decreased its shareholding from 5.012% to 3.000% of the paid-up capital in the company.&nbsp; With a market capitalization of Rs 37,534.87 Crores, The shares of Dixon Technologies (India) Ltd were trading at Rs 6,275.35 a share, a decrease of 0.64 [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":109371,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,13525],"tags":[],"class_list":["post-115746","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-stock-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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