Dixon Technologies shares in focus after promoter offloads 2.77% stake for over Rs 2,221 crore
ADVERTISEMENT According to BSE bulk deal data, Vachani sold 16.70 lakh shares of the Noida-based contract manufacturer at an average price of Rs 13,301.47 per share. Following the stake sale, his individual holding in the company declined from 5.34% to 2.57%. As a result, the combined promoter holding fell to 29.5% from 32.27%.
On the other side of the deal, Motilal Oswal Mutual Fund acquired 14.45 lakh shares in two tranches, amounting to a 2.39% stake for approximately Rs 1,924 crore. The shares were purchased at an average price of Rs 13,307.96 apiece. With this acquisition, Motilal Oswal Mutual Fund's total holding in Dixon rose to 4.63% from 2.24%.
Also Read: 11 Nifty mid & smallcap stocks that can rally 40-90% over the next 12 months
Following the stake sale, Dixon Technologies shares rose 3.55% on Monday to close at Rs 14,554.10 on the BSE.The positive stock movement comes on the back of a strong quarterly performance. Last month, Dixon Technologies reported a more than four-fold jump in consolidated net profit to Rs 464.95 crore for the quarter ended March 31, 2025, driven by robust revenue growth. In the same quarter last year, the company had posted a net profit of Rs 97.3 crore.
ADVERTISEMENT Revenue from operations surged to Rs 10,292.54 crore from Rs 4,657.97 crore a year ago, underscoring the company's continued expansion in India's electronics manufacturing space.Also Read: Is the grey market premium misleading? Decoding the valuation gap in HDB Financial's IPO
ADVERTISEMENT According to Trendlyne, the average analyst target price for Dixon Technologies stands at Rs 16,486, indicating an upside potential of around 13% from current levels. Out of 28 analysts tracking the stock, the consensus recommendation is a 'Buy'.Technically, the stock's Relative Strength Index (RSI) is at 46.6, suggesting neutral momentum. It continues to trade below its 20-day, 50-day, 100-day, and 200-day simple moving averages.
ADVERTISEMENT While shares have declined nearly 19% so far in 2025, they remain up about 26% over the past 12 months. Dixon Technologies currently commands a market capitalisation of around Rs 88,019 crore.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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