DIXON TECH: Dixon Tech Stock Hits Record High, Surpasses 10K
The Dixon Technologies said they are Joint venture ink term with HKC Corporation for manufacturing LED panels, Displays for Mobiles, Lapton, Liquid Crystal related Dispalys, Semiconductors related panels for locally made in India.
DIXON Market price is moving in Ascending channel and market has reached higher high area of the channel
Shares of Dixon Technologies jumped over 3 percent to reach their record high on June 7 after the company announced that it had signed a term sheet to establish a joint venture (JV) with HKC Corporation.
The joint venture will focus on manufacturing liquid crystal modules (LCM) and thin-film transistor liquid crystal display modules (TFT-LCD modules), as well as assembling various end products such as smartphones, TVs, monitors, and automotive displays.
HKC specializes in the development and manufacturing of semiconductor display panels and other core display devices and intelligent display terminals.
In its intelligent display terminal business, HKC primarily produces smart TVs and other TV terminals and displays, all-in-one machines, laptops, tablets, advertising machines, smart fitness goggles, and other IT and smart IoT terminals.
Dixon Technologies (India) is the largest home-grown design-focused and solutions company engaged in contract manufacturing of products in the consumer durables, lighting, and mobile phones markets in India.
Their product range includes LED TVs, home appliances such as washing machines, lighting products like LED bulbs, tube lights, and downlighters, mobile phones, CCTV and DVR systems, wearables, and refrigerators.
The proposed joint venture aims to market HKC branded end products to penetrate local markets within India. According to Dixon Technologies’ regulatory filing, the JV will be subject to receiving the necessary statutory approvals and signing definitive agreements.
Dixon Technologies’ stock price surpassed the Rs 10,000 mark for the first time following the latest surge, making it a five-digit stock. The market capitalization of the consumer durables firm rose to nearly Rs 60,000 crore.
MASTEK: Mastek Stock Soars 16% on Nvidia AI Partnership
The Mastek said they are Joint venture with Nvidia AI company for giving Cloud related services and AI based customer services using ICX Pro software. Mastek Uses ICX Software for Customer acquiring fast need of Cloud structures using AI technology of Nvidia Softwares.
MASTEK Market price has broken Ascending channel in downside
Shares of Mastek surged nearly 16 percent on June 7, following the announcement of a strategic partnership with Nvidia AI Enterprise aimed at enhancing customer experience (CX).
Mastek’s cloud-native platform, icxPro, has teamed up with NVIDIA AI Enterprise to improve CX management across various sectors. In an exchange filing on June 6, Mastek revealed that their AI-powered CX solutions have already demonstrated a 20 percent return on capital employed (ROCE) in the manufacturing sector and hold significant potential in the BFSI (Banking, Financial Services, and Insurance) and healthcare sectors.
The icxPro platform, designed for building scalable AI applications, will streamline the development of domain-specific AI applications using the full-stack NVIDIA accelerated computing platform. This platform includes NVIDIA NIM microservices, which are part of the NVIDIA AI Enterprise software suite.
Running on NVIDIA A100 Tensor Core GPUs, Mastek’s icxPro will enable businesses to achieve faster time to market and unlock significant business value. Key benefits for the Manufacturing, Healthcare, and BFSI sectors include superior CX management, expedited time to market, and enhanced customer engagement.
Mastek, a digital engineering and cloud transformation company based in India, has seen a boost in investor confidence, partly due to its strong performance and strategic initiatives.
Ace investor and fund manager Sunil Singhania owned a cumulative 9.68 lakh equity shares, or a 3.14 percent stake in Mastek through two schemes of his Abakkus Asset Managers as of March 31, 2024. This stake was valued at Rs 287.85 crore at the intraday high of Rs 2,987.90.
The Tata chemicals subsidiary of Europe plant fined Pound 1.1Million by the Chester Crown Court in the UK. This is due to company plant have safety incident issue happened in the 2016 and Subsquent death by Contractor in the plant. Globally chemical requirement is lowered by Chinese companies exposures.
TATA CHEMICALS Market price is moving in Ascending channel and market has reached higher low area of the channel
Shares of Tata Chemicals fell over 4 percent in trading on June 7 after the company’s subsidiary, Tata Chemicals Europe, was fined £1.1 million by the Chester Crown Court in the United Kingdom. The fine pertains to a safety incident in 2016 that resulted in the injury and subsequent unexpected death of a contractor.
Morgan Stanley downgrades chemical stocks, expects pain to linger Morgan Stanley downgrades chemical stocks, expects pain to linger
In addition to this fine, Tata Chemicals’ stock has faced pressure due to broader challenges in the global chemical industry. An influx of Chinese inventory, price pressures, and weakened global demand have adversely affected earnings and margins for many chemical companies.
Due to ongoing industry headwinds and a subdued near-term growth outlook, Tata Chemicals’ shares have fallen over 20 percent in the past three months.
The company reported weak earnings for the January-March quarter of FY24, as the global soda ash industry has struggled with prolonged oversupply. Tata Chemicals posted a net loss of Rs 841 crore in Q4FY24, compared to a net profit of Rs 692 crore in the corresponding period last year. Revenue also declined by 21.1 percent, falling to Rs 3,475 crore from Rs 4,407 crore in the same period last year.
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