Dixon Technologies shares jump 17% in 2 days, hit 52-week high on ban on import of laptops, tablets, PCs

economictimes.indiatimes.com:

Dixon Technologies jumped 17% in the last two trading sessions on BSE after the government restricted imports of electronic items such as laptops, tablets and personal computers. Meanwhile, in Friday's trade, shares of Dixon Technologies surged 8.4% to hit a new 52-week high of Rs 4,813 on BSE. In its notification, the Directorate General of Foreign Trade (DGFT) restricted the import of laptops, tablets, all-in-one personal computers and ultra-small form factor computers and servers.

These electronics can be imported only against a valid license meant for restricted imports. However, it clarified that it does not bar imports under Baggage rules for the said items. India's licensing requirement for imports of laptops, tablets and personal computers will ensure the security of its citizens, a source familiar with the matter told Reuters on Thursday, adding the decision complied with the World Trade Organization's requirements.

The government said the import licensing requirement is exempted for the purchase of a single unit of laptop, tablet, all-in-one PCs, or ultra-small form factor computer, including in cases a unit is bought from online sites. However, such imports will attract taxes as applicable. Further, it also exempted licensing for imports of up to 20 pieces of each of these items per consignment, in cases where these are imported for certain purposes including research and development, testing, benchmarking, and repair.