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Last Updated : Dec 03, 2019 02:32 PM IST | Source:

Buy or Sell | Here’s why Dixon Tech is pick of the week

The market is poised for an excellent start this coming week. The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) is scheduled to meet between December 3 and 5 and is likely to reduce policy rates by 25 bps.

 Dixon Technologies is the pick of the week. Dixon Tech has maintained a strong quarterly growth. Consolidated revenue grew 90% in Q2 FY20 to Rs 1402 crore against Rs 739 crore in Q2 FY19. Consolidated PAT grew 2.6 times YoY aided by lower tax rate. The company continues to focus on new client acquisitions and product addition. It has efficient working capital management while cash conversion continues to be strong. We recommend Dixon Tech with a target price of Rs 3807 giving around 14-15 percent from the current market price, said Pankaj Bobade, Head of Fundamental Research at Axis Securities.

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First Published on Dec 3, 2019 02:27 pm
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