Multibagger Dixon Technologies stock in focus; heres why
Dixon Technologies share price in Tuesdays trade were last up by 1 per cent as the companys shares have been given an equalweight rating.
Dixon Technologies shares are in focus in Tuesday's session (September 10) as the global brokerage Morgan Stanley maintained its equalweight call on the stock. The rating has been maintained after the consumer electronics firm onboarded HP India in the IT Hardware segment. The target price given out by the brokerage of Rs 8,696, implies a downside of 30 per cent.
The stock on the previous day ended higher by nearly 3 per cent at Rs 21,800 per share on the BSE.
The company in an exchange filing on Tuesday said that Padget Electronics - the wholly owned subsidiary of Dixon Technologies entered into an MOU with HP India Sales Private Limited for manufacturing of notebooks, desktops, and All-in-one PCs, subject to signing of definitive agreements in due course.
The brokerage added that HP enjoys 28-30 per cent market share in India's desktop and notebook segment, while Lenovoo and Acer have around 15 per cent each market share.
Dixon Technologies' share price
The consumer durable stock in the last one year has gained nearly 145 per cent in the last one year.
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