Staggering Return In 1-Yr, LIC stake @ 2.73%: HSBC Has Buy On Electronics Stock, TP Rs 8400

Shares of Dixon Technologies tanked 2.71% to settle at Rs 7633.65 per share on BSE. Dixon Technologies shares offered eye-popping returns of 156% in last 1-year. The company declared Rs 3/share dividend in last 1-year and conduced 1:5 stock split in 2021. Global brokerage firm HSBC has assigned buy call to Dixon Technologies share with target price of Rs 8400 per share.

HSBC On Dixon Technologies: According to the foreign brokerage firm, "Expect the company to more than double its revenue over the next two years." The analyst also stated that profit growth could potentially be higher than revenue growth for Dixon.

Dixon Technologies Share Performance: The 52-week high price of Dixon Technologies share on BSE is Rs 7985.85 per share (as on 03/04/2024) and 52-week low price is Rs 2765.70 per share (as on 19/04/2023), respectively. The company has a market capitalisation of Rs 45,665.71 crore. Dixon Technologies shares gained 43% in last 6-months, jumped 73% in last 2-years, offered gain of 118% in last 3-years, and surged 1525% in last 5-years.

Dixon Technologies Dividend History: Dixon Technologies (India) announced 6 dividends since July 17, 2018. In last 12 months, Dixon Technologies (India) Ltd. announced an equity dividend amounting to Rs 3.00 per share. At the current share price of Rs 7633.0000, Dixon Technologies offers a dividend yield of 0.04%.

Dixon Technologies Stock Split History: Dixon Technologies (India) Ltd split face value of its shares once since March 18, 2021. Dixon Technologies last split the face value of its shares from Rs 10 to Rs 2 in 2021.The share traded ex-split from March 18, 2021.

Dixon Technologies Technical: Score is 70.32, stock is technically strong. Stocks with score above 70 are considered as technically strong. RSI is 59.7, RSI below 30 is considered oversold and above 70 overbought. Number of FII/FPI investors increased from 326 to 376 in Mar 2024 quarter. Mutual Funds have increased holdings from 17.39% to 18.39% in Mar 2024 quarter. Number of MF schemes increased from 32 to 36 in Mar 2024 quarter. Life Insurance Corporation Of India (LIC) has 2.73% stake in Dixon with 1,632,684 shares.

Dixon Technologies Inks Agreement With Ismartu India Private Limited: As per April 8, 2024 BSE filing, "Dixon entered into a share purchase agreement ("Share Purchase Agreement") with Ismartu India Private Limited to acquire 1,38,73,846 equity shares of face value of INR 10 each of Ismartu India Private Limited ("Target Company") constituting 50.10% of the total issued, subscribed and paid-up share capital of Target Company on a fully diluted basis, out of which (a) 1,34,75,168 equity shares will be acquired from Ismartu In Pte Limited ("Ismartu Singapore"), (b) 51,832 equity shares will be acquired from Transsion Technology Limited, and (c) 3,46,846 equity shares will be acquired from 5A Advisors LLP Transsion Technology Limited, and (c) 3,46,846 equity shares will be acquired from 5A Advisors LLP."

Disclaimer: The stock has been picked from the brokerage report of HSBC. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.