Dixon Technologies shares in an uptrend, can the momentum continue?
Dixon Technologies shares: Despite all the bearish momentum, brokerage firm CLSA has reiterated its 'Outperform' rating for the consumer electronics stock.
- Dec 12, 2025,
- Updated Dec 12, 2025 2:12 PM IST
Shares of Dixon Technologies are in an uptrend for two sessions. The stock has gained 10.50% from 52 week low of Rs 12,133 reached on December 11. However, the stock is still down 26% in three months and left shareholders in losses in the short term. The multibagger stock has fallen 25% in a year and lost 26% in 2025.
Despite all the bearish momentum, brokerage firm CLSA has reiterated its 'Outperform' rating for the consumer electronics stock.
The brokerage has assigned a 12-month price target of Rs 18,800, implying a potential upside of 45% from current level.
The stock has been on a weak wicket due to concerns over potential reductions in the earnings per share (EPS) projections for the fiscal year 2027.
A primary concern is that Dixon Technologies is still awaiting the approval of Press Note 3 for its joint venture with Vivo. This venture is anticipated to contribute approximately 20 million units to smartphone production, out of an estimated total of 58 million to 64 million units in fiscal years 2027 and 2028. Given that this is a 51 to 49 joint venture, CLSA is of the opinion that even if a modest portion of this production volume materialises in fiscal year 2028, the company’s EPS could be adversely affected by 13% in fiscal year 2027 and 7% in fiscal year 2028.
In the current session, Dixon Technologies shares rose 3.17% to Rs 13,407. Market cap of the firm rose to Rs 81,031 crore. Turnover stood at Rs 53.40 crore as 0.40 lakh shares of the firm changed hands on BSE. Despite the uptick, the stock is still oversold on charts with its RSI at 29.7. A RSI below 30 indicates that a stock is oversold on charts.
Dixon Technologies shares are in a weak zone. The stock trades lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages, signalling the trend has been on a negative side for the market leader in its segment.
However, Dixon Technologies shares rose 233% in three years and gained 426% in five years.
Brokerage Nuvama has a hold rating on the stock with a price target of Rs 16,600.
The brokerage has cut its EPS estimates by 8%–13%. It expects the firm to report a 33%/37%/30% CAGR in revenue/EBITDA/adjusted PAT in FY25–28E.
The brokerage has trimmed its December-2026 estimated price target to Rs 16,600 (from Rs 16,800), basis 65x Dec-27 earnings per share (EPS).
Meanwhile, global brokerage UBS has a 'buy' call with a target price of Rs 23,000 per share.
According to the brokerage, the company is entering a new growth phase through backward integration into non-semiconductor smartphone components. This could push the EBITDA margin by 110 Bps by FY28 against consensus of 40 Bps.
Dixon Technologies (India) is the largest home-grown design-focused and solutions company engaged in contract manufacturing products in the consumer durables, lighting and mobile phones markets in India.
Shares of Dixon Technologies are in an uptrend for two sessions. The stock has gained 10.50% from 52 week low of Rs 12,133 reached on December 11. However, the stock is still down 26% in three months and left shareholders in losses in the short term. The multibagger stock has fallen 25% in a year and lost 26% in 2025.
Despite all the bearish momentum, brokerage firm CLSA has reiterated its 'Outperform' rating for the consumer electronics stock.
The brokerage has assigned a 12-month price target of Rs 18,800, implying a potential upside of 45% from current level.
The stock has been on a weak wicket due to concerns over potential reductions in the earnings per share (EPS) projections for the fiscal year 2027.
A primary concern is that Dixon Technologies is still awaiting the approval of Press Note 3 for its joint venture with Vivo. This venture is anticipated to contribute approximately 20 million units to smartphone production, out of an estimated total of 58 million to 64 million units in fiscal years 2027 and 2028. Given that this is a 51 to 49 joint venture, CLSA is of the opinion that even if a modest portion of this production volume materialises in fiscal year 2028, the company’s EPS could be adversely affected by 13% in fiscal year 2027 and 7% in fiscal year 2028.
In the current session, Dixon Technologies shares rose 3.17% to Rs 13,407. Market cap of the firm rose to Rs 81,031 crore. Turnover stood at Rs 53.40 crore as 0.40 lakh shares of the firm changed hands on BSE. Despite the uptick, the stock is still oversold on charts with its RSI at 29.7. A RSI below 30 indicates that a stock is oversold on charts.
Dixon Technologies shares are in a weak zone. The stock trades lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages, signalling the trend has been on a negative side for the market leader in its segment.
However, Dixon Technologies shares rose 233% in three years and gained 426% in five years.
Brokerage Nuvama has a hold rating on the stock with a price target of Rs 16,600.
The brokerage has cut its EPS estimates by 8%–13%. It expects the firm to report a 33%/37%/30% CAGR in revenue/EBITDA/adjusted PAT in FY25–28E.
The brokerage has trimmed its December-2026 estimated price target to Rs 16,600 (from Rs 16,800), basis 65x Dec-27 earnings per share (EPS).
Meanwhile, global brokerage UBS has a 'buy' call with a target price of Rs 23,000 per share.
According to the brokerage, the company is entering a new growth phase through backward integration into non-semiconductor smartphone components. This could push the EBITDA margin by 110 Bps by FY28 against consensus of 40 Bps.
Dixon Technologies (India) is the largest home-grown design-focused and solutions company engaged in contract manufacturing products in the consumer durables, lighting and mobile phones markets in India.