Shares of Dixon Technologies gained nearly 2% after global brokerage JPMorgan initiated coverage with an ‘Overweight’ rating, highlighting the company’s strong positioning in India’s fast-growing Electronic Manufacturing Services (EMS) space. As of 9:33 AM, the shares were trading 1.96% higher at Rs 15,776.00.
JPMorgan described India’s EMS sector as a “sunrise sector,” projecting a solid 32% revenue CAGR from FY25 to FY30, driven by rising electronics usage, the Make-in-India initiative, and global supply chain shifts favoring Indian manufacturers.
Dixon Technologies, referred to by JPMorgan as the “Mobile Champion,” is expected to benefit significantly from the robust growth outlook in the smartphone manufacturing segment. The brokerage anticipates that Dixon’s volume-led growth will continue strongly through FY27, supported by increasing localization and deeper integration into global value chains.
The note also emphasized that Dixon is well-placed to capitalize on demand across product categories beyond mobile phones, including consumer electronics and wearables. Its diversified portfolio and expanding capacity are expected to fuel long-term growth.
Dixon’s shares traded up 1.9% at ₹8,058 in early deals on Tuesday, reflecting investor optimism around the bullish outlook.