Share to buy today? LIC, mutual funds-owned Dixon Technologies share price hits record high after 160% rise in one year
Stock market today: Dixon Technologies shares have been in uptrend for nearly one year. In this time, Dixon Technologies share price has risen from around ₹2,893 to ₹7,626.90 apiece level on NSE, logging around 160 percent rally in this time. So, this electronic manufacturing services company share is one of the multibagger stocks in India.
However, it seems that the multibagger stock still have some upside potential. Dixon Technologies share price today opened upside and went on to touch an intraday high of ₹7,626.90 per share mark. While climbing to this intraday high,.
the stock went on to touch a new record high. Interestingly, the multibagger stock has been hitting life-time high for the last four straight sessions. According to stock market experts, Dixon Technologies shares are available at an attractive valuations as the consumer electronics stock is available at a PE multiple of 17 whereas the industry PE is 14.
They said that company's balance sheet is also strong. However, they raised eybrows over the growth registered by the company in non-core business. They said that the multibagger stock has made strong base at ₹6,750 apiece level whereas it has immediate support placed at ₹7,200 mark.
They also maintained that the stock is in a bull trend and it may go up to ₹8,130 per share level in short term. On reasons that are fueling Dixon Technologies share price rally, Sandeep Pandey, Founder of Basav Capital said, “Dixon Technologies (India) Ltd is a consumer electronics company and the company has a strong balance sheet. Company's earnings and order book looks promising but its core business growth has outpaced core business growth.
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