Dixon Technologies came under heavy selling pressure on Wednesday as the share price dropped close to 7%, significantly underperforming the broader market.
While the Sensex slipped only 0.32%, Dixon Technologies declined sharply, extending its recent downward trend and moving alarmingly close to its 52-week low.
Dixon Technologies Share Price Today; Drops Near 52-Week Low
Dixon Technologies’ share price falling Rs 878 or 6.50% to Rs 12,639 as of 2:44 pm. The stock opened the day at Rs 13,517, touched an intraday high of Rs 13,718, and later slipped to a low of Rs 12,601, reflecting heavy selling pressure throughout the session.
Dixon Technologies is now trading close to its 52-week low of Rs 12,202.20, raising concerns among investors about continued downside risk. The company’s latest quarterly dividend payout stands at Rs 1.991 per share.
Despite the short-term losses, long-term returns remain strong. The stock has fallen 27.41% in one year and 29.10% year-to-date, yet it has delivered 209.75% returns over three years and an exceptional 425% gain over five years, far outpacing the Sensex’s long-term growth.
Dixon Technologies Allots Shares Under ESOP Scheme
In a separate corporate development, Dixon Technologies Limited announced the allotment of equity shares under its Employee Stock Option Plan (ESOP). The company has allotted 2,650 equity shares under its ESOP with each share carrying a face value of Rs 2.
The allotment was completed on January 8, 2024, as part of the company’s ongoing strategy to reward and retain key employees.
Following this issuance, the company’s paid-up share capital increased marginally. The total number of equity shares rose from 5,94,85,725 to 5,94,88,375, while the paid-up capital moved from Rs 11,89,71,450 to Rs 11,89,76,750.
Key details of the allotment include:
- Number of shares allotted: 2,650 equity shares
- Face value: Rs 2 per share
- Allotment date: January 8, 2024