Buy Dixon Technologies (India), target price Rs 5915: ICICI Direct

ICICI Direct has buy call on Dixon Technologies (India) with a target price of Rs 5915. The current market price of Dixon Technologies (India) is Rs 5627.

Time period given by analyst is Intra Day 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 32946.80 Crore) operating in Consumer Durables sector.


Dixon Technologies (India) Ltd. key Products/Revenue Segments include Domestic Appliances, Job Work, Rent, Service Charges, Export Incentives for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 2804.73 Crore, up 50.17 % from last quarter Total Income of Rs 1867.67 Crore and up 71.13 % from last year same quarter Total Income of Rs 1638.99 Crore. Company reported net profit after tax of Rs 62.64 Crore in latest quarter.

Investment Rationale
Breakout above a bullish flag like formation and RSI in buy mode

Promoter/FII Holdings
Promoters held 34.93 per cent stake in the company as of 30-Sep-2021, while FIIs owned 18.41 per cent, DIIs 8.74 per cent.