$DIXON in focus: DAM Capital reiterates ‘BUY’, sees H2FY27 momentum led by Vivo JV and exports push

Dixon Technologies: DAM Capital has reiteriated its bullish stance on the contract manufacturer, maintaining a ‘BUY’ rating with a target price of Rs 13,500. The brokerage expects a pickup in growth momentum from the second half of FY27, supported by new partnerships, policy tailwinds, and expansion into new segments. At the current market price of Rs 12,013, the target implies a potential upside of about 12 per cent. DAM Capital expects Dixon’s base volumes to remain stable in the near term, with a sharper growth trajectory emerging only once incremental drivers kick in. The report notes that “Dixon’s base vols in FY27E are expected to remain flat at 32–33mn while its incremental growth hinges on Vivo JV (10mn vols in H2FY27E) which we believe is round the corner.”