Shares of Dixon Technologies, a prominent player in India's electronics sector, took a sharp dip as brokerages raised concerns about the company's valuation. Despite posting a 124% increase in net profit and a 117% surge in revenue for the third quarter, the stock experienced a huge drop. The company's plan to establish a display fabrication business with a $3 billion investment, subsidized under the India Semiconductor Mission, failed to impress investors. Additionally, domestic and foreign brokerages have downgraded the stock, citing unfavorable risk-reward ratios and high valuation.
In the midst of the Indian consumer discretionary industry, Dixon Technologies has caught the attention of global brokerage Nomura. With better-than-estimated Q2 earnings and a raised target, the stock is predicted to have a potential 24% upside. The company's focus on component manufacturing and long-term opportunities in the IT hardware & components segment contribute to this positive outlook. With latest updates on stock market and helpful tools such as Income Tax Calculator, Zee Business keeps you on the front line of Business Breaking News.
Vodafone Idea has received positive feedback from Nuvama Institutional Equities, Dixon Technologies and ICICI Securities, indicating a potential path to survival for the struggling telecom company. While Bharti Airtel rolled out a tariff hike on Friday, Vodafone Idea is expected to witness inflows of over $278 million and Suzlon Energy saw a significant increase in share price. Market experts discuss the potential opportunities in the telecom sector on Business Today TV's daily market show, with Vodafone Idea likely to opt for a payment plan to ease financial burden.