Latest news with #Vachani
Economic Times
24-06-2025
- Business
- Economic Times
Dixon Technologies shares in focus after promoter offloads 2.77% stake for over Rs 2,221 crore
Shares of Dixon Technologies will be in focus on Tuesday after its promoter and chairperson, Sunil Vachani, offloaded a 2.77% stake in the company for over Rs 2,221 crore through an open market transaction. ADVERTISEMENT According to BSE bulk deal data, Vachani sold 16.70 lakh shares of the Noida-based contract manufacturer at an average price of Rs 13,301.47 per share. Following the stake sale, his individual holding in the company declined from 5.34% to 2.57%. As a result, the combined promoter holding fell to 29.5% from 32.27%. On the other side of the deal, Motilal Oswal Mutual Fund acquired 14.45 lakh shares in two tranches, amounting to a 2.39% stake for approximately Rs 1,924 crore. The shares were purchased at an average price of Rs 13,307.96 apiece. With this acquisition, Motilal Oswal Mutual Fund's total holding in Dixon rose to 4.63% from 2.24%. Also Read: 11 Nifty mid & smallcap stocks that can rally 40-90% over the next 12 months Following the stake sale, Dixon Technologies shares rose 3.55% on Monday to close at Rs 14,554.10 on the positive stock movement comes on the back of a strong quarterly performance. Last month, Dixon Technologies reported a more than four-fold jump in consolidated net profit to Rs 464.95 crore for the quarter ended March 31, 2025, driven by robust revenue growth. In the same quarter last year, the company had posted a net profit of Rs 97.3 crore. ADVERTISEMENT Revenue from operations surged to Rs 10,292.54 crore from Rs 4,657.97 crore a year ago, underscoring the company's continued expansion in India's electronics manufacturing Read: Is the grey market premium misleading? Decoding the valuation gap in HDB Financial's IPO ADVERTISEMENT According to Trendlyne, the average analyst target price for Dixon Technologies stands at Rs 16,486, indicating an upside potential of around 13% from current levels. Out of 28 analysts tracking the stock, the consensus recommendation is a 'Buy'.Technically, the stock's Relative Strength Index (RSI) is at 46.6, suggesting neutral momentum. It continues to trade below its 20-day, 50-day, 100-day, and 200-day simple moving averages. ADVERTISEMENT While shares have declined nearly 19% so far in 2025, they remain up about 26% over the past 12 months. Dixon Technologies currently commands a market capitalisation of around Rs 88,019 crore. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
24-06-2025
- Business
- Time of India
Dixon Technologies shares in focus after promoter offloads 2.77% stake for over Rs 2,221 crore
Live Events Dixon Technologies share price target Shares of Dixon Technologies will be in focus on Tuesday after its promoter and chairperson, Sunil Vachani , offloaded a 2.77% stake in the company for over Rs 2,221 crore through an open market to BSE bulk deal data, Vachani sold 16.70 lakh shares of the Noida-based contract manufacturer at an average price of Rs 13,301.47 per share. Following the stake sale, his individual holding in the company declined from 5.34% to 2.57%. As a result, the combined promoter holding fell to 29.5% from 32.27%.On the other side of the deal, Motilal Oswal Mutual Fund acquired 14.45 lakh shares in two tranches, amounting to a 2.39% stake for approximately Rs 1,924 crore. The shares were purchased at an average price of Rs 13,307.96 apiece. With this acquisition, Motilal Oswal Mutual Fund's total holding in Dixon rose to 4.63% from 2.24%.Following the stake sale, Dixon Technologies shares rose 3.55% on Monday to close at Rs 14,554.10 on the positive stock movement comes on the back of a strong quarterly performance. Last month, Dixon Technologies reported a more than four-fold jump in consolidated net profit to Rs 464.95 crore for the quarter ended March 31, 2025, driven by robust revenue growth. In the same quarter last year, the company had posted a net profit of Rs 97.3 from operations surged to Rs 10,292.54 crore from Rs 4,657.97 crore a year ago, underscoring the company's continued expansion in India's electronics manufacturing to Trendlyne, the average analyst target price for Dixon Technologies stands at Rs 16,486, indicating an upside potential of around 13% from current levels. Out of 28 analysts tracking the stock, the consensus recommendation is a 'Buy'.Technically, the stock's Relative Strength Index (RSI) is at 46.6, suggesting neutral momentum. It continues to trade below its 20-day, 50-day, 100-day, and 200-day simple moving shares have declined nearly 19% so far in 2025, they remain up about 26% over the past 12 months. Dixon Technologies currently commands a market capitalisation of around Rs 88,019 crore.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
23-06-2025
- Business
- Time of India
Dixon Technologies promoter sells 2.77% stake for over Rs 2,221 crore
Dixon Technologies (India) promoter Sunil Vachani on Monday divested a 2.77 per cent stake in the homegrown contract manufacturer for over Rs 2,221 crore through an open market transaction. According to the bulk deal data on the BSE, Sunil Vachani, Chairperson of Dixon, offloaded 16.70 lakh shares or a 2.77 per cent stake in Noida-based Dixon Technologies. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Earn from Home in Balakhal [See How] Earn Money Learn More Undo The shares were disposed of at an average price of Rs 13,301.47 apiece, taking the deal value to Rs 2,221.34 crore. Following the stake sale, Vachani's stakeholding in Dixon reduced to 2.57 per cent from 5.34 per cent. The combined holding of Dixon Tech's promoters also declined to 29.5 per cent from 32.27 per cent. Meanwhile, Motilal Oswal Mutual Fund acquired 14.45 lakh shares in two tranches, amounting to a 2.39 per cent stake in Dixon Technologies for Rs 1,924 crore. Live Events The shares were purchased at an average price of Rs 13,307.96 apiece, taking the deal size to Rs 1,923.84 crore. After the stake buy, Motilal Oswal Mutual Fund's holding in Dixon Technologies rose to 4.63 per cent from 2.24 per cent. Details of the other buyers of Dixon Technologies could not be ascertained on the exchange. Shares of Dixon Technologies (India) rose 3.55 per cent to close at Rs 14,554.10 per piece on the BSE. Last month, electronics manufacturing services company Dixon Technologies (India) reported an over four-fold jump in consolidated net profit to Rs 464.95 crore in the fourth quarter ended March 31, 2025, riding on robust revenue growth. The company had posted a consolidated net profit of Rs 97.3 crore in the corresponding quarter of the previous fiscal. Its consolidated revenue from operations stood at Rs 10,292.54 crore compared to Rs 4,657.97 crore in the year-ago quarter, the company said. In FY25, its consolidated net profit was Rs 1,232.58 crore against Rs 374.92 crore in FY24. The company's consolidated revenue from operations in FY24 stood at Rs 38,860.1 crore from Rs 17,690.9 crore in FY24, it added.
Filipino Times
11-06-2025
- Business
- Filipino Times
Al Maya honors Filipino spirit with tribute on Philippine Independence Day
Al Maya Group extends its warmest wishes to the Filipino community across the UAE and beyond as the Philippines marks its Independence Day on June 12 — a day that celebrates pride, unity, and the enduring spirit of the nation. Mr. Kamal Vachani, Group Director and Partner at Al Maya Group, shared his message on the occasion, 'We extend our heartfelt greetings to the wonderful Filipino community as they celebrate their Independence Day. The Philippines is a country rich in heritage, heart, and hospitality — values that deeply resonate with all of us at Al Maya.' For more than 35 years, Al Maya has proudly served as a bridge between cultures by bringing the authentic taste of the Philippines to shelves across the UAE. From household staples to ethnic delicacies, Filipino products have been a key part of the Group's diverse retail offering, and Filipino customers remain a vital part of Al Maya's journey. 'Our connection with the Filipino community is strong and special,' added Mr. Vachani. 'We're honored to serve generations of loyal customers from the Philippines, and we look forward to building on this legacy with even more dedication and care.' In celebration of this important day, Al Maya Supermarkets will feature special in-store displays highlighting Filipino brands and traditional favorites, turning shopping into a celebration of home for many. Al Maya Group remains committed to championing diversity, strengthening community ties, and honoring the many cultures that enrich life in the UAE. About Al Maya Group Established in 1982, Al Maya Group has grown to become a leading retail conglomerate in the UAE and GCC. With over 50 supermarkets and 25 Borders bookstores, the group employs more than 3,000 people from 30 different countries across its multiple business verticals.
Economic Times
06-06-2025
- Business
- Economic Times
Dixon awaits govt nod to make displays for sub-Rs 15k phones jointly with HKC
The company filed its application about six weeks ago and is now awaiting clearance, as the proposal falls under Press Note 3. Under this rule, India requires prior approval for foreign investments from countries with which it shares a land border. These include China, Bangladesh, Pakistan, Bhutan, Nepal, Myanmar, and Afghanistan. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads PARIS: Electronics contract manufacturer Dixon Technologies is awaiting government approval to produce display modules for mobile phones priced below Rs 15,000, as well as for laptops and tablets, in partnership with China-based display firm HKC , said Sunil Vachani , chairman of the company filed its application about six weeks ago and is now awaiting clearance, as the proposal falls under Press Note 3. Under this rule, India requires prior approval for foreign investments from countries with which it shares a land border. These include China, Bangladesh, Pakistan, Bhutan, Nepal, Myanmar, and Afghanistan."We have recently filed the application," Vachani said, adding that the company will explore alternative manufacturing options if approvals are not noted that if India's free trade agreements with the EU and the US materialize, the country could aim for $100 billion in annual emphasized the need for companies to look beyond mobile phone manufacturing and expand into laptop production."They can be easily manufactured and scaled up with high value addition," he India imports $15 billion worth of IT products boost its IT hardware manufacturing , Dixon Technologies has formed a joint venture with Taiwan-based Inventec Vachani also said that Korean and Taiwanese companies involved in display technology for mobile phones have exited the sub-?15,000 segment.(The correspondent is in Paris at the invitation of the commerce and industry ministry.)
