Dixon share price down nearly 10% to 13.540,30 after hitting lifehigh

Dixon Technologies shares fell nearly 10% to Rs 13,540.30 on the NSE on Thursday, despite posting a strong set of earnings for the quarter ended September 2022.

The company's net profit rose by 94.25% year-on-year to Rs 1,339.66 crore, while its revenue from operations jumped 101.12% to Rs 65,790.43 crore.

Analysts said that the sell-off in Dixon share price could be attributed to profit booking, as the stock had rallied significantly in recent months.

Dixon Technologies is a leading manufacturer of consumer electronics and home appliances in India.

The company's products include televisions, washing machines, refrigerators, air conditioners, and mobile phones.

Dixon has a strong presence in both the domestic and international markets.

The company's customers include some of the world's leading brands, such as Samsung, Xiaomi, and Panasonic.

Despite the recent sell-off, Dixon Technologies shares remain up about 200% in the past year.

Analysts remain bullish on the company's long-term prospects, citing its strong brand name, wide product portfolio, and growing market share.

Dixon is expected to benefit from the government's push for Make in India and the growing demand for consumer electronics in India.

The company is also expected to benefit from the upcoming festive season, which is typically a strong period for sales of consumer electronics.

Overall, Dixon Technologies is a well-managed company with a strong track record of growth.

The recent sell-off in Dixon share price is likely to be a short-term correction, and the company remains a good investment for the long term.