Dixon Technologies Shareholder Trims Stakes For Rs 904.12 Crore
A shareholder of Dixon Technologies India Ltd. sold 1.15% stake in the company for Rs 904.12 crore through open market transactions on Friday.
UBS Principal Capital Asia Ltd. offloaded 6.86 lakh shares, or 1.15%, at Rs 13,178.47 apiece, according to the bulk deal data on the NSE. The details of the buyers were not disclosed.
In addition to Dixon Technologies, on Friday, UBS Principal Capital Asia had also sold stakes in other companies, the combined worth of which was Rs 4,961 crore.
Vodafone Idea Ltd., Oracle Financial Services Software Ltd., Oil India Ltd., Rail Vikas Nigam Ltd. and Zydus Lifesciences Ltd. are the other companies in which UBS Principal Capital Asia offloaded equity.
At the same time, it bought shares in Bandhan Bank Ltd. and Prestige Estate Ltd.
Earlier, Dixon Technologies had declared its plan to divest its entire 50% stake in the joint venture AIL Dixon Tech to Aditya Infotech. In exchange for this transaction, Dixon Technologies will acquire a 6.5% stake in Aditya Infotech.
Shares of Dixon Technologies closed 0.06% lower at Rs 13,186.55 per share, as compared to a 0.28% rise in the S&P BSE Sensex. The stock has risen 165.65% in the last 12 months and 100.57% so far this year. The relative strength index was 65.39.
Out of the 31 analysts tracking the company, 15 have a "buy" rating on the stock, six suggest "hold," and 10 recommend "sell," according to Bloomberg data. The average of 12-month analyst price targets imply a potential downside of 11.2%.
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