Govt bans imports on electronic devices; Dixon Technologies shares soar
Dixon Technologies shares jumped by 5.56 per cent to a high of Rs 4,354 on BSE. This was against a half-a-per cent fall in the BSE Sensex.
Dixon Technologies shares rose 6 per cent in Thursday’s trade after the government restricted the import of laptops, tablets and personal computers with prompt effect. The government said in a statement that the implications would be permitted against a valid licence for restricted imports.
Following the development, the shares rose 5.56 per cent to Rs 4,354 on BSE. This was against a half-a-per cent decline in the BSE Sensex.
Dixon Technologies is committed to India’s electronic manufacturing services (EMS) space. It offers design-focused answers in customer durables, home appliances, lighting, cell phones and security devices.
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It even provides repair and refurbishment services, including set-top boxes, cell phones and LED TV panels.
The Ministry of Commerce and Industry stated in the statement, “Import of laptops, tablets, all-in-one personal computers, and ultra-small form factor computers and servers falling under HSN 8741 shall be ‘restricted’, and their import would be allowed against a valid licence for restricted imports.”
The ministry said that the limitations will not apply to imports under Baggage Rules. Baggage Rules refer to the checks every passenger entering or exiting the Indian border has to give under Customs.
