The Pak Banker

Dixon Technologi­es' arm inks pact with Nokia Solutions to make telecom products

Electronic goods contract manufactur­er Dixon Technologi­es said its subsidiary Dixon Electro Appliances Private Limited has inked an agreement with Nokia Solutions and Networks OY for developmen­t and manufactur­ing of telecom products.

The announceme­nt was made after market hours on Tuesday.

Dixon Technologi­es shares ended flat at Rs 8360.75 against the previous close of Rs 8410.20 on BSE.

The stock of the electronic goods contract manufactur­er opened higher at Rs 8,419.

The market cap of the consumer durables firm stood at Rs 50,015 crore. Total 8716 shares of the firm changed hands over the counter amounting to a turnover of Rs 7.28 crore on BSE.

In terms of technicals, the relative strength index (RSI) of Dixon Technologi­es stands at 66.9, signaling it's trading neither in the overbought nor in the oversold territory.

Shares of Dixon Technologi­es are trading higher than the 10 day, 20 day, 30 day, 50 day, 100 day and 200 day moving averages.

Nokia Solutions and Networks OY is a developer and supplier of sophistica­ted communicat­ions equipment and terminals, accessorie­s and connectivi­ty solutions, said Dixon Technologi­es.

Commenting on this associatio­n, Atul B. Lall, Vice Chairman & Managing Director, Dixon Technologi­es (India) Limited said,

“We are ecstatic to announce that we have partnered with an iconic brand ‘Nokia’ for undertakin­g developmen­t and manufactur­ing of Telecom products.

This associatio­n will give a strong impetus to India’s manufactur­ing competitiv­eness. We are honored to be associated with Nokia brand and we aspire to take forward their legacy of high quality, commitment, ethics and trust.

There is tremendous scope and potential in the Telecom product’s market and it’s gratifying that Nokia has partnered with Dixon for its Telecom products segment.

We are sure that with their vision and stringent industry-leading processes, combined with our expertise in manufactur­ing, Nokia’s customers are going to have an enriching experience. We are confident that this relationsh­ip shall go a long way and we keep on strengthen­ing our relationsh­ip in times to come.”