What are the prospects for Dixon Technologies share price?

The value of Dixon Technologies stocks, an Indian multinational electronics manufacturing services company, has been under a downtrend recently. What are the prospects for Dixon Technologies share price in the near future? Is it worth buying its stocks at the moment?

Image credit: Dixon Technologies

Dixon Technologies – what this company is famous for?

Dixon Technologies is a leading Indian electronics manufacturing and services company that provides end-to-end solutions in consumer durables, lighting, home appliances, mobile phones, televisions, laptops, medical electronics, and security systems, within a wider range of other products.

The company was established in 1993. Soon after its creation, the enterprise emerged as a reliable and innovative player in the electronics industry, offering world-class manufacturing and design capabilities to global brands.

With state-of-the-art manufacturing facilities located across India, Dixon Technologies has established a strong foothold in the market, serving some of the biggest names in the industry, including Samsung, Xiaomi, Panasonic, LG Electronics, Philips, and Motorola. The company is known for its customer-centric approach, quality products, and timely delivery, and is committed to driving innovation and growth in the electronics sector.

Value of Dixon Technologies shares (6-month trend). Image credit: Google

What are the prospects for Dixon Technologies’ share price?

At the time of writing this article, the shares of Dixon Technologies have been falling for several months. While the price was at a lifetime high in November 2022 reaching the value of approximately $57.31 (₹4,690), the stocks have retraced by more than 43% since then.

But recent trading sessions have awakened some hope. Compared to a recent lowest point on February 22, 2023, when a single share was valued at approximately $25.00 (₹2,046), the company has regained some positivity, raising the stock price up to $36.43 (₹2980.60) on March 5, 2023. This trend is well depicted in the below image, showing a 1-month change.

Value of Dixon Technologies shares (1-month trend). Image credit: Google

Stock market experts are attentively observing these changes. Some specialists believe that the current stock price is at its lowest level. Future evolution should show upside movements.

While the current price of Dixon’s shares is around $36.43 (₹2980.60), a reasonable medium-term target could be $44.11 (₹3,610) per share. The risk-reward factor is even better for a positional investment. Therefore, you may be interested in buying Dixon Technologies’ stocks if you are looking for a long-term investment.

Note: ₹ – Indian Rupee.

Written by Giedrius Pakalka and Alius Noreika