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Dixon Tech Plunges Near 52-Week Low Amidst Selling Spree
10 Dec
Summary
- Dixon Technologies share price dropped nearly 7%, nearing its 52-week low.
- The company recently allotted 2,650 equity shares under its ESOP scheme.
- Despite recent drops, the stock shows strong long-term returns over three and five years.
Dixon Technologies faced substantial selling pressure on Wednesday, causing its share price to decline by approximately 7% and approach its 52-week low. The stock's performance significantly underperformed the broader market, with the Sensex experiencing a much smaller dip.
In a separate development, the company announced the allotment of 2,650 equity shares under its Employee Stock Option Plan on January 8, 2024. This move increased the total number of equity shares and paid-up capital marginally, reflecting a strategy to reward key employees.
Despite the recent downturn, which has seen the stock fall by over 27% in the past year, historical data indicates strong long-term growth. Dixon Technologies has delivered impressive returns over three and five-year periods, significantly outpacing the Sensex's long-term growth trajectory.
