Dixon Technologies shares crack 7% in 4 sessions despite strong Q2. What should investors do?
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Shares of electronics manufacturing services major Dixon Technologies India fell 4% to a day’s low of Rs 15,540 on Thursday, October 23, extending its post-Q2 earnings weakness. The multibagger stock, which has surged nearly 700% over five years, is down 7% in just four sessions. The company reported a 72% rise in Q2 consolidated net profit to Rs 670 crore, up from Rs 390 crore a year ago. Revenue from operations grew 29% to Rs 14,855 crore, compared to Rs 11,534 crore in the same quarter last year. What should you do? International brokerage firm Nomura has retained its Buy rating on the counter and assigned a target price of Rs 21,152 per share. That’s an upside potential of over 30% from the previous close. Dixon’s efforts to diversify its customer base and explore new growth avenues continue to support high growth visibility. “With the lighting unit moving into a joint venture, we have revised FY26/FY27/FY28 revenue estimates down by ...