Dixon Technologies shares surged over 3% on Tuesday, following the company’s inclusion in MSCI Inc.’s global emerging markets gauge and upgrade to mid-cap status. This development comes on the heels of the company’s impressive Q1 FY25 results, which saw revenue and net profit exceed analyst expectations.
The stock price soared 3.34% before settling at a 3.03% gain, trading at Rs 352.90 per share, outpacing the NSE Nifty 50’s modest 0.05% rise. This upward momentum is a testament to the company’s robust financial performance and growing investor confidence.
Dixon Technologies’ Q1 FY25 results were a testament to the company’s strong fundamentals, with revenue skyrocketing 101.1% to Rs 6,588 crore and net profit rising 109% to Rs 140 crore. The company’s operating profit margin stood at 3.8%, with EBITDA increasing 90% to Rs 256 crore.
The MSCI upgrade is a significant milestone for Dixon Technologies, recognizing its growing market capitalization and liquidity. This development is expected to attract more foreign investors to the stock, further fueling its growth trajectory.
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