HSBC maintains buy call on this largecap consumer durable stock: Check target price

Dixon Technologies shares gained nearly 4 per cent after the company onboarded HP as one of its clientele. Upon the development, after Morgan Stanley maintained an equal weight call on the stock, two other global brokerages continued with their previous ratings.

At the last count at around 13:48 pm, the stock traded higher by 2.46 per cent at Rs 12,815 per share, while at day's high it jumped to Rs 12,976.95 per share.

In 2 days after the consumer electronics firm has soared as much as 5 per cent from Monday's close.

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HSBC on Dixon Technologies maintained its buy call as the brokerage held that the company looks set to capture a significant portion of India’s IT hardware manufacturing. Large scale in Mobile & IT hardware to create backward integration opportunities, added the brokerage.

Meanwhile, Hong Kong-based global brokerage CLSA maintained hold call on the stock for a target of Rs 12,100 from the earlier Rs 11,400. The key conference takeaway as listed by the brokerage:

Dixon outlined a strong near and medium-term growth outlook for the company.

New customer acquisition and gaining wallet share in mobile phones is likely to drive growth in the near term, it added.

The company on the near term is keeping a focus on raising backward integration through components manufacturing and ramping up new segment.

Dixon Technologies share price performance

The multi-bagger stock gained 151 per cent in the last one year.