Dixon Technologies Shares Surge 7% on HSBC Upgrade and New Manufacturing Boost

gies (India) Ltd. witnessed a strong 7% jump in its stock price on Thursday, driven by an upbeat HSBC upgrade and the Union Cabinet’s approval of a new ₹62,500 crore Mobile Phone Manufacturing Scheme (MPMS). The fresh scheme, set to replace the existing Production-Linked Incentive (PLI) programme for smartphones, aims to further strengthen India’s mobile manufacturing ecosystem with enhanced incentives and long-term policy support. Analysts believe this will significantly benefit contract manufacturers like Dixon, which has emerged as a key player in Apple’s supply chain and domestic brands. HSBC raised its target price on the stock, citing improved outlook on revenue visibility, margin expansion, and government push for ‘Make in India’. The company’s robust order book and expanding capacities position it well to capture the next phase of growth in the electronics sector. Market sentiment remains positive with expectations of sustained momentum.