Dixon Technologies shares crack 8% to 4-week low, worst 1-day drop in over 2 months
Live MintAfter experiencing a consistent rise in recent months without any major pullbacks, the shares of Dixon Technologies came under significant selling pressure in today's trade, January 07, falling by 8% to 4-week low of ₹16,982 apiece. Japanese brokerage firm, Nomura recently raised its target price for Dixon Technologies to ₹22,256 apiece from ₹18,654, maintaining its 'buy' recommendation. Supporting this outlook, domestic brokerage firm Anand Rathi expects the company to benefit from ongoing mobile manufacturing localization tailwinds regardless of market share movement among brands. The tie-up will enable the company to manufacture non-Vivo phones too, thus increasing capacity from the current 50 million phones pa. Post onboarding Vivo, the company now has tie-ups with all major Android brands.