Despite muted Q3 performance, higher input costs and uncertainty over the Vivo joint venture, Dixon Technologies' valuation factors in multiple headwinds, with brokerages divided on outlook
Emkay Global described Dixon's Q3 as 'soft', with revenue growth limited to 2% Y-o-Y, largely due to a 5% annual decline and a sharp 30% sequential fall in the mobile phone business.
Bata India, Indian Hotels, IGL, MGL, Just Dial, Kalyan Jewellers, Jubilant FoodWorks, Oberoi Realty, Mankind Pharma and Suzlon Energy have hit their respective 52-week lows.
Dixon shares have declined 24 per cent over the past one month and 63 per cent over six months, reflecting investor anxiety around multiple headwinds.
The stock price of Kaynes Technology hit a 52-week low of ₹3,682.15 in intra-day trade on Wednesday, and has corrected 52 per cent from its 52-week high of ₹7,705 touched on October 7, 2025.
The brokerage lowered its target price to ₹16,598 from earlier levels, implying a 36 per cent upside from current prices.
Stocks to watch on Monday, January 5, 2026: At around 7:10 AM, GIFT Nifty futures were up 79.1 points at 26,534.5, signaling a strong start for the bourses.
Dixon Technologies stock was down 3.3 per cent to ₹11,915, its lowest level since August 2024, on the BSE in Monday's intra-day trade.
Some stocks that rallied last year have been among the biggest laggards of 2025, while many underperformers have emerged as winners
Dixon Technologies has plunged 32 per cent from its calendar year high, while ITC Hotels stock has shed nearly 27 per cent, shows technical charts.
Kaynes Tech stock has recently taken a hit following concerns around the company's accounting disclosures, which made market participants nervous
Nomura expects Indian markets to trade in the range of 20-22x one-year forward earnings, assuming risk premia remain low.
Mobile and EMS segments fuel Dixon's growth; brokerages expect further gains from backward integration and component manufacturing expansion
Nuvama analysts have marginally lowered Dixon Technologies' December 2026 target price to ₹16,600 from ₹16,800, valuing the stock at 65x estimated December 2027 EPS
Electronics manufacturing services firm Dixon Technologies has posted an 81 per cent jump in consolidated net profit to Rs 745.7 crore in the second quarter ended September 30, 2025, according to an exchange filing. The company had reported a net profit of Rs 411.7 crore in the same period a year ago. The revenue from operations of the company grew by 28.7 per cent to Rs 14,855 crore during the reported quarter from Rs 11,534 crore in the September 2024 quarter. The mobile devices manufacturing division of the company contributed 90 per cent of revenue during the reported quarter, while 6 per cent came from the consumer electronics and appliances division. The Nomination and Remuneration Committee of the company has approved the grant of 7,000 number of stock options to the employees of the Company, its Subsidiary company(ies) and Joint Venture Company(ies) from time to time in one or more tranches.
Amber and Syrma are primarily targeting printed circuit board (PCB) manufacturing, while Dixon is focused on backward integration in mobile value chains, specifically camera and display modules.
Alphabet is in advanced discussions with its current Indian manufacturing partners, Foxconn and Dixon Technologies, as well as potential new suppliers like Micromax-owned Bhagwati Products
Foxconn Hon Hai, Apple's iPhone maker, grew its share from 13 per cent in Q2 CY 2024 to 19 per cent this year, catapulted by ballooning iPhone exports to the US
The Dixon Technologies-HKC Overseas joint venture (JV) is for manufacturing and selling of LCD and TFT-LCD modules that are used in electronic devices like TV, mobile phones, etc, for display
Domestic electronics contract manufacturer Dixon Technologies has formed a Rs 370 crore joint venture for display modules manufacturing with Chinese company HKC Overseas. The Dixon Technologies-HKC Overseas joint venture is for manufacturing and selling of LCD and TFT-LCD modules that are used in electronic devices like TV, mobile phones etc for display, a regulatory filing said on Saturday. "Dixon Technologies (India) Ltd has entered into a Term Sheet with HKC Corporation Ltd to form a joint venture for manufacturing of Liquid Crystal Modules, thin film transistor liquid crystal display modules, assembly of end products such as smartphones, TVs, monitors and auto displays and selling HKC branded end products in India," the filing said. HKC Overseas Ltd will acquire 26 per cent stake in Dixon Display Technologies Pvt Ltd (DDTPL) for USD 10.998 million, about Rs 95.5 crore and Dixon will acquire 74 per cent stake in the JV for USD 31.3 million, about Rs 274 crore in two tranches. "T