India's Dixon Technologies rises after B&K Securities initiates with 'buy'

About this update from Dixon Technologies (india) Ltd.

** Electronics manufacturer Dixon Technologies NSE:DIXON rises as much as 3% to 15,668 rupees; last up 1.2%** Batlivala & Karani Securities initiates stock coverage with "buy", sets PT at 18,946 rupees, implying a ~23% upside to current price ** Brokerage says, co has evolved from a traditional electronics services provider to a backward integrated, export oriented manufacturer, that is backed by structural tail winds such as India's manufacturing goals and the China plus one strategy** Adds, continued scale up of mobile and IT hardware segments as well as exports should help DIXO post revenue and profit after tax CAGR of 42% and 69% respectively over FY25-27E** Points out room for expansion given its current market share of 12%-14% in electronic manufacturing services (EMS) ** Stock rated 'buy' on avg by 28 analysts; median PT at 17,552 rupees** DIXO down 14.2% YTD

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