Shares of Dixon Technologies (India) and Amber Enterprises India were trading higher for second straight day, ralling up to 17 per cent in two days and hitting their respective 52-week highs on the BSE in Friday’s intra-day trade.
Among individual stocks, Dixon surged 8 per cent to Rs 4,812.70 after the central government restricted import of laptops, tablets, and personal computers with immediate effect in a bid to push local manufacturing. The stock of consumer electronics company has rallied 17 per cent in past two days.
While Amber soared 9 per cent to Rs 2,633 in intra-day trade today and has rallied 11 per cent in two days. In comparison, the S&P BSE Sensex was up 0.5 per cent at 11:06 AM.
Dixon transformed from being a manufacturer of electronic goods to leading multi-product corporation with widespread activities. The company is primarily engaged in the manufacturing of electronics as its core business activity.
Amber is principally engaged in the business of manufacturing a versatile range of products i.e. air conditioners, electronics and refrigeration solutions to railways, microwave ovens, washing machines, refrigerators, heat exchangers, sheet metal components, HVAC (Heating, Ventilation and Air Conditioning) products and services for mobility applications etc.
Government’s thrust to manufacture electronics locally presents a multifold growth opportunity for these companies. The government has been trying to push local manufacturing by giving production-linked incentives in over two dozen sectors, including electronics.
The government has extended the deadline for companies to apply for its $2 billion manufacturing incentive scheme to attract big-ticket investments in IT hardware manufacturing, which covers products like laptops, tablets, personal computers and servers, the Reuters reported.
Meanwhile, Dixon’s mobile segment is expected to contribute a significant part of revenue growth and the management is confident of healthy growth in the segment going forward. However, analysts Axis Securities expect moderate growth in Consumer Electronics and Lighting Segment for FY24.
Furthermore, healthy growth in Washing Machines and new verticals including Refrigerators, Wearable & Hearables, IT hardware, Laptops, and Telecom Equipment is expected to aid the company in achieving profitable growth going forward, the brokerage firm said in its result update.
Amber’s strategy shift of Increasing product offerings in the RAC Components and Non-AC Components segment, customer additions, foray into the Commercial AC space, and increase in exports are expected to drive the company’s long-term growth. The brokerage firm expects gradual margin improvement by FY25E, led by higher scale, operating leverage benefits, and contribution from exports.
Among individual stocks, Dixon surged 8 per cent to Rs 4,812.70 after the central government restricted import of laptops, tablets, and personal computers with immediate effect in a bid to push local manufacturing. The stock of consumer electronics company has rallied 17 per cent in past two days.
While Amber soared 9 per cent to Rs 2,633 in intra-day trade today and has rallied 11 per cent in two days. In comparison, the S&P BSE Sensex was up 0.5 per cent at 11:06 AM.
Dixon transformed from being a manufacturer of electronic goods to leading multi-product corporation with widespread activities. The company is primarily engaged in the manufacturing of electronics as its core business activity.
Amber is principally engaged in the business of manufacturing a versatile range of products i.e. air conditioners, electronics and refrigeration solutions to railways, microwave ovens, washing machines, refrigerators, heat exchangers, sheet metal components, HVAC (Heating, Ventilation and Air Conditioning) products and services for mobility applications etc.
Government’s thrust to manufacture electronics locally presents a multifold growth opportunity for these companies. The government has been trying to push local manufacturing by giving production-linked incentives in over two dozen sectors, including electronics.
The government has extended the deadline for companies to apply for its $2 billion manufacturing incentive scheme to attract big-ticket investments in IT hardware manufacturing, which covers products like laptops, tablets, personal computers and servers, the Reuters reported.
Meanwhile, Dixon’s mobile segment is expected to contribute a significant part of revenue growth and the management is confident of healthy growth in the segment going forward. However, analysts Axis Securities expect moderate growth in Consumer Electronics and Lighting Segment for FY24.
Furthermore, healthy growth in Washing Machines and new verticals including Refrigerators, Wearable & Hearables, IT hardware, Laptops, and Telecom Equipment is expected to aid the company in achieving profitable growth going forward, the brokerage firm said in its result update.
Amber’s strategy shift of Increasing product offerings in the RAC Components and Non-AC Components segment, customer additions, foray into the Commercial AC space, and increase in exports are expected to drive the company’s long-term growth. The brokerage firm expects gradual margin improvement by FY25E, led by higher scale, operating leverage benefits, and contribution from exports.