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Mobile components makers’ stocks gain as govt cuts import duty on mobile phone parts to 10%

31 Jan 2024 Evaluate

Shares of mobile phones components makers soared after government slashed import duty on key components used in the production of mobile phones from 15% to 10%.

Redington is currently trading at Rs. 180.90, up by 3.50 points or 1.97% from its previous closing of Rs. 177.40 on the BSE.

Amber Enterprises India is currently trading at Rs. 4501.60, up by 28.95 points or 0.65% from its previous closing of Rs. 4472.65 on the BSE.

Dixon Technologies (India) is currently trading at Rs. 5876.60, up by 13.90 points or 0.24% from its previous closing of Rs. 5862.70 on the BSE.

Moreover, these components reportedly include battery enclosures, primary lenses, rear covers, and various mechanical components made from a combination of plastic and metal. This decrease is poised to benefit the mobile phone industry, spurring growth and enhancing competitiveness globally. 

Peers
Company Name CMP
Redington 349.60
Adani Enterprises 2682.00
Amrapali Industries 32.78
Maxgrow India 174.80
Rashi Peripheral 689.15
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