Buy Dixon Technologies (India), target price Rs 4700: ICICI Direct

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Buy Dixon Technologies (India), target price Rs 4700:  ICICI Direct


ICICI Direct has buy call on (India) with a target price of Rs 4700. The current market price of Dixon Technologies (India) is Rs 4230.2. Time period given by analyst is 3 months when Dixon Technologies (India) Ltd. price can reach defined target.



Dixon Technologies (India) Ltd., incorporated in the year 1993, is a Mid Cap company (having a market cap of Rs 25146.44 Crore) operating in Consumer Durables sector.

Dixon Technologies (India) Ltd. key Products/Revenue Segments include Domestic Appliances, Job Work, Other Operating Revenue, Service Charges, Rent and Export Incentives for the year ending 31-Mar-2022.

Financials

For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 2855.49 Crore, down -3.35 % from last quarter Total Income of Rs 2954.57 Crore and up 52.89 % from last year same quarter Total Income of Rs 1867.67 Crore. Company reported net profit after tax of Rs 45.51 Crore in latest quarter.

Investment Rationale
The stock witnessed noteworthy delivery based activity since the end of July 2022 in the zone of Rs 3500-3800, which is a crucial support for the stock. Since accumulation was seen in this stock last month, it believes downsides are limited in it while positive momentum is likely to remain intact in the stock above Rs 3800 levels. The delivery Z score reading in the cash segment indicates there is still room for further delivery pick-up in coming days. In due course, an up move should pan out in the stock


Promoter/FII Holdings
Promoters held 34.3 per cent stake in the company as of 30-Jun-2022, while FIIs owned 15.08 per cent, DIIs 8.07 per cent.

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