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159% Returns in 1 Year: Multibagger Dixon Tech hits 52-week high after stock price surpasses ₹10,000-mark

Published on by ppcsecretformula

Dixon Technologies share price surpassed the ₹10,000-mark for the first time on Friday, with the stock hitting its fresh 52-week high mark

Dixon Technologies share price hit its fresh 52-week high mark on Friday
Dixon Technologies shares rallied over three per cent on Friday, June 7, to hit their fresh 52-week high mark after the stock price surpassed the ₹10,000 mark for the first time ever. The stock has given multi-bagger returns to investors over the last one-to-three-year periods. The consumer electronic firm has been leading the electronic manufacturing services (EMS) space in India.

Dixon Technologies Q4 Results

Dixon Technologies reported a consolidated net profit of ₹97.3 crore for the March quarter of FY24, registering a growth of 20.6 per cent, from ₹80.62 crore last year. The consolidated revenue from operations stood at ₹4657.97 crore, from ₹3065.45 crore in the year-ago quarter, registering a growth of 51.97 per cent.

In the fourth quarter of this fiscal year, operating EBITDA (Earnings before interest, tax, depreciation, and amortization) increased by 17.3 per cent to ₹183 crore compared to ₹156 crore in the corresponding period last year.

The EBITDA margin for the reporting quarter was four per cent, down from 5.1 per cent in the fourth quarter of the previous fiscal year. The company’s board recommended a final dividend for FY24 at the rate of Rs. 5 per equity share of the face value of ₹2 each, upon shareholders’ approval.

Dixon Technologies Share Price Trend

On Friday, shares of Dixon Tech opened at ₹9,950 and gained three per cent to hit a fresh 52-week high mark of ₹10,085, before settling 2.30 per cent higher at ₹9,986.45 apiece on the BSE. According to stock exchange data, the company commands a market capitalisation (mcap) of ₹59,754.02 crore. Shares of Dixon Tech have rallied more than 50 per cent YTD (year-to-date)–so far in 2024.

According to Trendlyne data, Dixon Tech has given better returns compared to Nifty 50 and Sensex in the last one year. In the past one month, the stock gave 18.67 per cent returns against 3.53 per cent and 3.72 per cent returns by Nifty 50 and Sensex, respectively. In the last one year, Dixon Tech has given multibagger 158.51 per cent returns to investors as against 25.13 per cent and 22.06 per cent returns by Nifty 50 and Sensex, respectively.