- Dixon Technologies attracts strong interest from leading domestic mutual funds in India
- Motilal Oswal MF holds 36.1 lakh shares, followed by Kotak MF and Nippon India MF
- IIFL Capital sees favourable risk-reward and upside potential in Dixon and Kaynes Tech
Dixon Technologies (India) Ltd. continues to attract strong interest from domestic mutual funds, with several leading asset managers holding sizeable positions in the electronics manufacturing services company.
According to the latest data, Motilal Oswal Mutual Fund tops the list with 36.1 lakh shares, followed by Kotak Mutual Fund at 14 lakh shares and Nippon India Mutual Fund at 12 lakh shares. Other major holders include UTI MF (10.8 lakh), Axis MF (10.4 lakh), HDFC MF (8.7 lakh), and Invesco MF (8.3 lakh). Smaller but notable stakes are held by Canara Robeco MF and HSBC MF (6.8 lakh each), while Edelweiss MF owns 3.7 lakh shares.
Earlier this week, IIFL Capital's Vice President of Research, Renu Baid Pugalia said that she believes there is headroom for upside in certain stocks like Dixon Tech and Kaynes Tech.
In an exclusive conversation with NDTV Profit, Pugalia explained that there is a favourable risk-reward emerging for some of the market leaders in the EMS space. In the same light, Pugalia considers Kaynes as well as Dixon Tech as top picks in the EMS sector.
Dixon Technologies is India's largest Electronics Manufacturing Services provider, acting as the "Brand behind Brands" by designing and manufacturing a vast range of electronics for global giants like Samsung, Xiaomi, and Philips
Dixon Technologies reported a strong set of numbers for Q2, with consolidated net profit surging 72% year-on-year to Rs 670 crore from Rs 390 crore. Revenue rose 29% to Rs 14,855 crore compared to Rs 11,534 crore in the same period last year, while Ebitda grew 32% to Rs 561 crore from Rs 426 crore. Operating margin remained stable at 3.8% versus 3.7% a year ago, reflecting steady profitability despite higher volumes.
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